Reading 1/1:
Cleaner. Abundant Fuels Attracting Record Investment
2345678
A Renewable energy captured from the wind, sun, Earth's heat, tides, and from small dams is drawing record levels of investment as poor villagers and entire nations alike seek clean,abundant ways to fuel economic growth. Global investment in renewable energy set a new record of $30 billion in 2004, according to a new report from the Renewable Energy Policy Network for the 21st Century (REN21). Technologies such as wind, solar, biomass, geothermal, and small hydro now provide 160 gigawatts of electricity generating capacity - about four per cent of the world total the report said. They are growing at rates of around 20-30 per cent per year, however, compared to two or three per cent for oil and gas.
"Renewable energy has become big business," said Eric Martinot, lead author of the study, "Renewables 2005: Global Status Report". Martinot, a senior fellow at the Washington, DC-based think tank Worldwatch Institute and a lecturer at Tsinghua University in Beijing, said renewable energy has attracted some of the world's largest companies, including General Electric.Siemens, Sharp, and Royal Dutch Shell. The report estimated that nearly 40 million households worldwide heat their water with solar collectors, most of them installed in the last five years.Altogether, renewable energy industries provide 1.7 million jobs, most of them skilled and well paid.
Next Question
Next Reading
an tot ni
1
Martinot and 100-plus researchers in more than 20 countries assessed several renewable technologies: small hydro (meaning small dams), modem biomass (agricultural waste, for example).wind, solar, geothermal, and biofuels such as ethanol and biodiesel. These technologies now compete with conventional fuels in four distinct markets: power generation, hot water and space heating, transportation fuels, and rural (off-grid) energy supplies.
Renewable energy is gaining in popularity because it is considered to be in infinite supply unlike oil, coal, and gas and because it involves little or no pollution compared to those fossil fuels. Scientists blame the burning of fossil fuels for the release of carbon dioxide and other greenhouse gases that stoke global climate changes, which in turn are intensifying droughts in some parts of the world, floods and storms in others, and the spread of tropical diseases to temperate zones.
Additionally, renewable energy could empower millions of poor and vulnerable people who lack access to reliable, affordable, and clean modem energy services. UN Secretary General Kofi Annan said in a message to the Beijing International Renewable Energy Conference, which opened Monday. Annan said that rising oil prices have hit oil-importing developing countries
especially hard and underscore the need for alternative energy supplies. According to the REN21 report, government support for renewable energy is growing rapidly. At least 48 countries
now have some type of renewable energy promotion policy, including 14 developing countries. Typically, they include targets to ensure that renewable sources generate 5-30 per cent of
