Supporting Renewable Energy Benefits Globe and People

 

January 23, 2006

Two key factors will be critical to the success of the Partnership: developing mechanisms to deploy existing zero- and low-emission technologies that are available now; and implementing appropriate incentives to develop and commercialize new and emerging zero- and low-emission technologies. Once in place, a challenge for the AP6 is the 1.6 billion people in the world who don't currently have access to electricity, particularly in light of the direct link between energy supply and poverty alleviation.

Sustainable energy incorporates energy efficiency, renewable energy technologies such as wind, solar, biomass and hydro as well as low-emission technologies such as gas-fired generation and cogeneration. These technologies are currently available and are already contributing to greenhouse reductions across Partnership countries. In order to stabilize greenhouse emissions, it is important that the deployment of these technologies be doubled in the short term.

Also at the meeting, incentives were identified for the private sector to invest in research, commercialization and deployment of clean energy technologies to reduce greenhouse gas emissions. The ability to earn greenhouse credits under CDM projects is leading to the establishment of a number of private capital funds to invest in developing country projects. Greater levels of investment will not only assist greenhouse gas emissions by furthering the market, but can improve living standards worldwide.

"The meeting acknowledged that a barometer for the future success of the AP6 will be the extent to which barriers to private sector investment in clean energy are removed so that private capital flows to projects on the ground," said Ric Brazzale, Executive Director of the Australian Business Council for Sustainable Energy.