Energy group calls for more renewable investments

One of the world’s leading energy organizations is calling for dramatic increases in renewable energy investments to help offset the dangers of climate change.

In a statement released this week to coincide with the G8 summit in Italy, the International Energy Agency said that up to $400 billion will need to be invested worldwide for the next two decades to hold down rising global temperatures.

The IEA also credited the $100 billion contained in the U.S. stimulus bill for clean energy investments as "a step in the right direction." Advancements in energy efficiency would account for more than half of the reductions needed to reduce climate change, along with the development of more renewable resources, including wind and solar energy, plus nuclear power.

The organization went on to report that if world governments were to enacts its recommendations, the amount of carbon emissions saved by 2030 would be equal to the annual output of Japan and the United States combined.

Looking ahead, the IEA indicated that it is working on roadmaps containing recommendations for the development of specific energy resources, from photovoltaic panels and wind turbines to hybrid and electric vehicles.

Author: Tom Staples

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Posted in: Green Energy

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