Economic gloom threatens renewables investment

Nature News ^ | 3 June 2009 | NA

[neverdem]

SOURCE: IEA

Renewable-energy projects are struggling the most in terms of investment in the energy sector, according to a report published by the International Energy Agency (IEA) on 27 May.

The agency predicts that a sharp fall in energy demand could see global electricity consumption drop by up to 3.5% this year — the first contraction since 1945. Combined with tighter access to credit, the weak demand means that many firms in the oil, gas and coal sectors are having to cut back on their spending. The slump is even more pronounced for renewables projects, which are often developed by smaller companies.

Government stimulus spending will trigger additional public and private investment in renewable energy (see chart), but the agency thinks that the stimulus funding needs to be increased sixfold if patterns of energy use are to be altered sufficiently to keep the global temperature rise within 2 °C of pre-industrial levels.

See also page 740.

[WHBates]

"Government stimulus spending will trigger additional public and private investment in renewable energy (see chart), but the agency thinks that the stimulus funding needs to be increased sixfold if patterns of energy use are to be altered sufficiently to keep the global temperature rise within 2 °C of pre-industrial levels"

These people are crazy. We are in for one ell of a ride. None of what they say even makes any sense.

[Thunder90]

GW nuttiness PING!!!

[Vince Ferrer]

Profitability is a bigger threat.

[GOP Poet]

bookmark

[Uncle Miltie]

I invest in non-renewable CO2 generating fossil fuels. Pays off big time!

[SunkenCiv]

The agency predicts that a sharp fall in energy demand could see global electricity consumption drop by up to 3.5% this year -- the first contraction since 1945. Combined with tighter access to credit, the weak demand means that many firms in the oil, gas and coal sectors are having to cut back on their spending. The slump is even more pronounced for renewables projects, which are often developed by smaller companies. Government stimulus spending will trigger additional public and private investment in renewable energy... but the agency thinks that the stimulus funding needs to be increased sixfold if patterns of energy use are to be altered sufficiently...

[SunkenCiv]

Thanks neverdem.

[Myrddin]

• There is not global warming or CO2 problem. CO2 is falsely blamed as a means of controlling carbon based sources of energy.
• "Renewables" are all money losers. Absent massive government subsidies, they are always an economic failure.
• Laying massive taxes on non-renewables doesn't make renewables an economic success. It simply kills the economy.

[Post Toasties]

Has the IEA considered if it even possible to increase renewable energy spending by six times - i.e.: where is the money going to come from and who is going to do without to pay for it? And how about that June frost in Central Michigan - that looks like a cooling trend, not a warming trend. The IEA better recheck their numbers, I say.

[steelyourfaith]

anx !

 

Beam me to Planet Gore !