24 Nov '11, 1pm

Renewable energy becoming cost competitive, IEA says | Peak Oil

Renewable energy becoming cost competitive, IEA says Renewable energy technology is becoming increasingly cost competitive and growth rates are in line to meet levels required of a sustainable energy future, the International Energy Agency (IEA) said in a report on Wednesday. The report also said subsidies in green energy technologies that were not yet competitive are justified in order to give an incentive to investing into technologies with clear environmental and energy security benefits. The renewable electricity sector has grown rapidly in the past five years and now provides nearly 20 percent of the world’s power generation, the IEA said during the presentation of the report titled Deploying Renewables 2011. The IEA’s report disagreed with claims that renewable energy technologies are only viable through costly subsidies and not able to produce energy reliably to mee...

Full article: http://peakoil.com/alternative-energy/renewable-energy-be...

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