Renewable energy

The International Energy Agency (IEA)  stated: ‘Current global trends in energy supply and consumption are patently unsustainable — environmentally, economically, socially…It is not an exaggeration to claim that the future of human prosperity depends on how successfully we tackle the two central energy challenges facing us today: securing the supply of reliable and affordable energy; and effecting a rapid transformation to a low-carbon, efficient and environmentally benign system of energy supply.

ECP defines ‘Renewable and Alternative Energy’ as renewable non-fossil energy sources (wind, solar, geothermal, wave, tidal, hydropower, biomass, landfill gas, sewage treatment plant gas and biogases) together with some clean coal technologies.  

Renewable energy markets are experiencing high growth with installed capacity forecast to grow rapidly.  

New Energy Finance recently documented this growth potential - an increase from US$33.2 billion in 2004 to US$148.4 billion in 2007, and forecasts growth to US$450 billion by 2012 and US$600 billion by 2020. 

This major investment in new capacity is underpinned by strong political support, tough national targets, attractive tariffs and technology advances.

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