United Nations panel says renewable energy costs will drop: leaked report

Key findings from an upcoming climate change report released by the United Nations are expected to show that cost reductions in the renewable energy sector are likely to continue through to 2050, boosting their deployment.

A draft summary of a report due to be released by the Intergovernmental Panel on Climate Change, which has been leaked to Reuters, is to set out over 160 possible future scenarios on how renewable energy adoption may progress.

Although biomass accounted for the highest proportion of renewable energy produced in 2008, there is scope for technology innovation across all areas, it said.

Crucially, in the majority of scenarios it put forward, low-carbon energy supply accounted for both more than nuclear power and fossil carbon capture and storage technologies.

The UN panel estimate global investments in the sector ranging from $1.36bn to $5.10bn for 2011 to 2020 and from $1.49bn to $7.18bn from between 2021 and 2030.

It also concludes that the technical potential of renewable energy can outstrip global energy demand.

newenergyworldnetwork.com

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