22 Jun '15, 10am

How renewable energy auctions are slashing clean energy costs

How renewable energy auctions are slashing clean energy costs

Governments considering introducing renewable energy auction schemes in a bid to drive down the cost of clean energy subsidies are being offered support through a new guide, published today by the International Renewable Energy Agency (IRENA). Renewable energy auctions have been widely hailed as one of the most successful policy developments in the clean energy sector in recent years, with proponents crediting them with helping to drive down the cost of renewable energy. FURTHER READING Clean energy 'creates more jobs than fossil fuels', report claims Selling the 'tech' in clean tech The policy schemes work by asking renewable energy developers to bid for contracts, with the lowest bids commonly securing government support. Consequently, developers are forced to compete for support, ensuring only the most cost-effective projects proceed. More than 60 countries have now ado...

Full article: http://www.businessgreen.com/bg/news/2414189/how-renewabl...

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