Renewable Energy | Pembina Institute
 

The Global Energy Transition

A global transition to renewable energy is already underway. Renewable energy offers an alternative to conventional sources and grants us greater control over future energy prices and supply. Individuals, businesses, and communities can meet their energy needs through local, distributed energy production that provides additional economic benefits including jobs and community development.

Public and private sector investment in renewable energy is growing rapidly. Increased awareness of renewable energy opportunities and government policies supportive of renewable energy development are helping to speed this transition to a sustainable energy future. Examples of supportive policies and innovative financing solutions from countries around the world provide examples and opportunities for Canada to pursue.

Charting the Transition: Action Around the World

The current interest in renewable energy began at the United Nations 2002 World Summit on Sustainable Development in Johannesburg, South Africa. This conference highlighted the importance of access to basic, clean and renewable energy in supporting sustainable development and poverty eradication. However, it was the Renewables 2004 Conference in Bonn, Germany that laid the foundation for an expansion of renewable energy worldwide. This conference attracted 3,600 participants, including ministers and government representatives from 154 countries. Access to basic, clean energy is essential in supporting sustainable development and poverty eradication.

Subsequent conferences, such as the 2005 Beijing International Renewable Energy Conference, continue to send clear messages that renewable energy can compete with conventional energy and must be the basis for future global development. [MORE]

Supportive Policies

Recognizing the benefits of renewable energy, countries around the world are introducing policies to encourage their development. According to the Worldwatch Institute’s report, Renewables 2005 - Global Status Report, at least 48 countries now have some type of renewable energy promotion policy, including 14 developing countries. Most targets are for shares of electricity production, typically 5—30%, by the 2010—2012 timeframe. Mandates for blending biofuels into vehicle fuels have been enacted in at least 20 states and provinces worldwide as well as in three key countries — Brazil, China and India. Government leadership provides the key to market success, according to the report. [MORE]

Investing in Renewables

Renewable energy and energy efficient technologies are poised to be a large part of the world’s energy future, and investors are demonstrating an increased interest in financing renewable energy initiatives both through conventional and innovative financing mechanisms. The total global investment in clean energy in 2005 was over US $42 billion.

New policy initiatives and plans by utilities to boost renewable energy capacity in countries such as United States, Germany, Japan and Spain are also helping to spur the rate of investment in renewable energy. However, further efforts are required both in Canada and internationally to remove barriers that may limit investments in renewable energy such as lack of information, inadequate regulatory structures and the instability of incentive programs. [MORE]

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