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WASHINGTON, DC, US, May 03, 2006 (Refocus
Weekly)
The world must work to meet energy needs that are
essential for economic growth and which leave a smaller
environmental footprint, according to a report from the World Bank
and International Monetary Fund.
“The decisions countries make today on energy policies and
technology will have long-term consequences for the sustainability
of growth and for the health of our environment,” says World Bank
president Paul Wolfowitz. “The World Bank Group is working with the
international community to see how all of us can tackle these issues
more effectively, at a larger scale, and with innovative solutions.”
Developing and transition countries will require investments of
US$300 billion a year over the next quarter-century, explains ‘Clean
Energy & Development: Towards an Investment Framework.’ In addition,
a move towards a lower-carbon economy will require an incremental
global annual cost of $10 to $100 billion per year, depending on the
target to reduce GHG emissions.
“An extensive array of clean and efficient energy supply and demand
technologies
exists,” including new solar, wind, small and large hydro, biomass/biofuel
and geothermal technologies, as well as nuclear fission, combined
cycle facilities and natural gas “as a bridging fuel in the
transition period until renewable energy technologies become
commercially viable,” it explains. The report “does not equate clean
energy only with small-scale modern renewable energy technologies,
but with a complete suite of clean and efficient production, supply
and end-use technologies.”
“An approach is needed where the highest priorities are addressed
first based on a set of screening criteria, with a particular
emphasis on low-cost, high impact solutions,” it explains. Criteria
for prioritizing investments include cost-effectiveness where
investments and expenditures can be made in a ‘no regrets’ format
“where clean energy investments are financially attractive under
sound, commercially viable policies” with some forms of renewable
energy, especially off-grid facilities.
“New renewable energy (solar, wind, hydro, biomass, and geothermal
sources) currently contribute only about 2% of total primary
commercial energy, excluding traditional use of biomass for cooking
and heating,” it explains. “They contributed 880 GW for power
production including large-scale hydro (720 GW) in 2004"
“Aggressive policies to support low-carbon energy technologies are
needed for new renewable technologies share of commercial energy to
rise significantly by 2030,” it concludes. Technical options include
equipment to improve operations of some forms of renewable energy,
but “more country-specific energy sector work and policy analysis
are needed to identify these barriers and recommend policy,
financial and other solutions.”
“Many of the technologies needed to achieve clean energy for
development are important first steps in paving the way to address
the challenge of reducing GHG emissions” and include the greater the
uptake of renewable energy technologies and nuclear power, it adds.
“To realize a low-carbon economy will take an aggressive program on
energy production and end-use efficiency improvements, significant
penetration of renewable energy technologies and fuel switching.”
“Policy targets for renewable energy that exist in 45 countries
today are one example of policies adopted to accelerate the use of
energy technologies that do not emit greenhouse gases,” it states.
“The 28% annual growth of wind power capacity and the 60% annual
growth of solar photovoltaic capacity in the past five years can be
directly attributed to such policies.”
“Policy targets for renewable energy exist in ten developing
countries, all 25 European Union countries, and many
states/provinces in the United States and Canada,” it notes. “Most
targets are for shares of electricity production, typically 5 to 30%
by the 2010-2012 timeframe. There is an EU-wide target of 21% of
electricity production by 2010 and China’s Renewable Energy Law that
became effective on January 1, 2006 sets a target of 15% of total
power capacity by 2020.”
The World Bank Group’s four priorities for the energy sector are to
“protect the environment by removing market and regulatory barriers
to renewable energy and energy efficiency investments and reducing
gas flaring, reducing or eliminating local pollution, and
facilitating carbon trading and joint investments to reduce GHG
emissions,” as well as improving access of the poor to modern energy
services, improving macroeconomic and fiscal balances by
rationalizing energy taxes and enhancing effective payment by all
energy users to eliminate operating subsidies to state-owned
enterprises, “thus leveling the playing field for clean energy,” and
to improve the investment climate for clean energy.
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