About 60% of all the energy used in the world comes from burning oil and natural gas. Despite massive exploration programs, few large outfields have been found in recent years. This could well mean we have discovered most of the world’s oil sources, and that, in the future, oil can run out faster than anticipated. The current production of oil worldwide is enough to meet our present energy needs.
At the present rate of consumption, the world’s reserves are just enough to last for the next 100 years. Unfortunately, the world’s energy demand has been growing steadily over the past 50 years, and this trend is likely to continue.
Over the last few decades, it is becoming increasingly clear that reliance on oil and coal as the principle source of energy is an unsustainable long-term position. Despite this realization, the energy playing field is leveraged towards dependence on these sources. Increasing world demand, coupled with a dwindling supply, supply instabilities, and negative environmental impacts of oil and coal, are all strong reasons to promote renewable energy technologies.
Renewable energy is energy which can be replenished at the same rate it is used. Renewable energy is the term used to describe energy that comes from sources whose supplies are regenerative and virtually inexhaustible. Among these sources are sunshine, wind, water, vegetation, and the heat of the earth.
This 113-page report examines this industry in detail.
Table of Contents
Global Energy Markets
World Energy Markets
Global Energy Crisis
Need for Renewable Energy Sources
Issues and Challenges
Renewable Energy Technology Status & Prospects
Background, Current Scenario, and Future Prospects of:
Removal of Market Distorting Policies
Targets and Timetables for Renewable Energy
Green Power Purchasing and Pricing
Local Government Policies
Rural Electrification Policies
Cross Sector Policies
Implications for BIREC 2005
Economics of Renewable Energy Development
Cost of Energy Generation
Government’s Role in Pricing
(Cf. news of 2007-03-12.)
Source: Research and Markets Ltd., Newsletter, 2007-03-05.