Policymakers must promote renewables, says REEEP

Policymakers must promote renewables, says REEEP

VIENNA , Austria:

Policymakers must develop and boost the adoption of renewable energy technologies by using tested solutions more aggressively, according to the Renewable Energy & Energy Efficiency Partnership.

The emission of greenhouse gases from fossil fuels are leading to changes in climate “which threaten economic growth, social stability and human life,” explains the ‘Renewable Energy Regional Policy Analysis Report' prepared for the Washington International Renewable Energy Conference in March. “Renewable technologies create opportunities to decouple economic growth from greenhouse gas emissions.”

The International Energy Agency estimates that US$20,000 billion will be spent in the global energy sector by 2030, most of which will come from the private sector. “Governments of all levels have a responsibility in creating the right incentives and frameworks ... to ensure that this money is spent in a manner that will enable a stable, secure and sustainable global energy future.”

“Switching to a low-carbon economy will provide opportunities for the development of low-carbon technologies, like renewables,” it continues. “There would also be energy security benefits from a reduced dependence on fossil fuels, and benefits to the local environment.”

The IEA has demonstrated that renewables and energy efficiency technologies exist which can return global CO2 emissions to current levels by 2050 and reduce the growth in oil demand by half. “Renewable energy technologies are universally recognised as a part key of the overall solution to develop energy security and a sustainable energy future,” it adds.

REEEP consulted with stakeholders in Asia, Latin America, the Caribbean and Southern Africa to identify the main barriers to the uptake of renewables and offer solutions on how to overcome the barriers. “Strong global leadership is needed to ensure that the potential of renewable technologies is realised.”

“Many barriers to the implementation of renewable technologies still remain” such as national energy plans which lack long-term reliable policies and regulatory measures to encourage the deployment of renewables and a “lack of suitable finance and business models to provide attractive long-term investment environments for renewable energy.” Investors often lack knowledge about renewables and the rates of return available, and “there is a lack of a level-playing field between the development of renewables and conventional energy projects due to subsidies being applied to energy being produced through fossil fuels.”

“Collaboration between all the stakeholders in the regions is the key to surmounting the barriers to renewable energy development,” it concludes. “There is increasing political will within the region to embrace a clean energy regime, technology is improving and reducing in cost, levels of expertise are expanding and investment capital is available. The most beneficial way to take advantage of these resources is through collaboration and knowledge sharing aimed at the adoption of global best practices.”

“In removing the barriers associated with the deployment of renewable technologies, governments can work together an assist in the global aim of avoiding the worst impacts of climate change, whilst realising the goals of energy access, energy security, poverty alleviation, and in mitigation the economic and social effects of increasing fossil fuel prices.”

REEEP includes 38 national governments as well as businesses, industry and non-governmental groups and financiers. It was established in 2004 and has supported 100 projects in 40 countries.