• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 28 mins Oil prices going down
  • 11 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 10 hours Two Koreas Agree To March Together At Asian Games
  • 2 hours When will oil demand start declining due to EVs?
  • 9 hours Oil and Trade War
  • 2 hours Correlation Between Oil Sweet Spots and Real Estate Hot Spots
  • 2 hours Sell out now or hold on?
  • 54 mins Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 30 mins What If Canada Had Wind and Not Oilsands?
  • 22 mins Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 1 hour venezuala oil crisis
  • 5 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 10 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 14 hours Australia mulls LNG import
  • 3 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 7 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
Alt Text

The Next Stage In Perovskite Solar Development

Perovskite photovoltaic cells have long…

Alt Text

EV Adoption Could Cost Germany 75,000 Jobs

The fast-growing adoption of electric…

Andy Tully

Andy Tully

Andy Tully is a veteran news reporter who is now the news editor for Oilprice.com

More Info

Trending Discussions

IEA Says Investment In Clean Energy Will Keep Growing, Slowly

IEA Says Investment In Clean Energy Will Keep Growing, Slowly

The International Energy Agency (IEA) says overall investment in renewable energy will continue to grow through 2020, but at a slower rate than it has in recent years.

The IEA’s annual Medium-Term Renewable Energy Market Report for 2014, issued Aug. 28, anticipated investment in biomass, wind and solar energy will total $1.61 trillion through the end of the current decade, even as the rate of investment begins to lag.

The report says funding for clean energy reached a peak of $280 billion in 2011 and was still a generous $250 billion in 2013. But that is expected to decline to an average of $230 billion a year at least until 2020. Part of the reason is the continuing cost of technology and resistance by governments around the world to pass laws that make such investments more attractive.

The IEA, the Paris-based energy adviser to 29 nations, said about 22 percent of electricity around the world today is generated by renewable energy sources. That rate will rise to about 26 percent by 2020 and could be even greater if governments worked harder to encourage private funding.

“Policy uncertainty remains a key challenge to renewable deployment,” the IEA report said. “Unanticipated changes to incentive schemes represent a risk that investors cannot manage, and can lead to elevated financing costs and boom-and-bust development patterns.”

As examples, the report cited China, which is not only the world’s biggest market for solar energy but also its chief emitter of greenhouse gases. The IEA said Beijing isn’t spending enough on electricity networks based on clean generators, and isn't working hard enough to make financing easier and less expensive.

Europe, too, is stumbling, the report said; Investors there are uncertain about the EU’s policy on renewables after 2020 and whether it will push for the installation of an electrical grid for the entire continent to make it easier to integrate power plants that generate clean energy.

For example, the current rate of growth in installing new solar and wind farms, while robust, may not be enough to meet targets for climate protection. This has prompted lobbyists for renewable energy to press the EU to adopt stricter, mandatory targets.

IEA Executive Director Maria van der Hoeven says the source of this sluggishness is the reluctance of governments to recognize that spending on clean energy is valuable to them.

“Renewables are a necessary part of energy security,” van der Hoeven said in a statement. “Many renewables no longer need high incentive levels. Rather, given their capital-intensive nature, renewables require a market context that assures a reasonable and predictable return for investors.”

By Andy Tully of Oilprice.com




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News