Many people often ask what the global trends in investment in electricity generation capacity are given the wave of renewable energy policies being adopted by countries around the world. Consider these facts:
- Investment in power generation in 2008 was around $US 250 billion globally.
- Investment in wind generation alone in the same year was $US 52 billion globally.
- Investment in all forms of renewable generation in the same year was $140 billion globally.
- In total, more than half (or 56%) of all new generation investment was renewable.
These statistics show the globe is shifting towards renewable energy. Australia’s policy directions are consistent with these investment trends.
Ah, but the important question is whether this investment is private or if various taxpayers are paying for it.
If the “renewable” power generation investments are financially viable, you will have trouble keeping the private people away and we will all benefit because we know that they will only be interested when they see it is better than the status quo.
If governments “invest” tax payers money in such programs we can be sure that they will continue to suck up public money and be a burden upon us all.
Of course if you have communist leanings you are unlikely to see it that way.
Cheers
Roger
http://www.rogerfromnewzealand.wordpress.com
Comments also published at http://www.globalwarmingsupporter.wordress.com
Interesting. I trust RE does not include nuclear, Gas or clean coal indeed.
We need to shift faster to RE & EE though. The atmosphere will not compromise…
jl
Oh I think I forgot to mention that the comment of mine which you appear to have trashed, no doubt because it does not agree with your point of view, was also published on http://www.globalwarmingsupporter.wordpress.com
My reader are anxious to read your reply and it does not inhance the credibility of your site to not publish reasonable comments, no matter what their point of view.
Cheers
Roger
Hi Julien,
No, it doesnt include nuclear, gas or clean coal.
Thanks for your comment.
Hi Roger,
Thanks for your comment. There was no intent on my part in not publishing the comment – just a bit of late timing.
In relation to climate change science, AGL is of the view that climate change AND energy security are driving an uptake of renewables.
Tim
np
Here it is again so you can publish it this time.
Ah, but the important question is whether this investment is private or if various taxpayers are paying for it.
If the “renewable” power generation investments are financially viable, you will have trouble keeping the private people away and we will all benefit because we know that they will only be interested when they see it is better than the status quo.
If governments “invest” tax payers money in such programs we can be sure that they will continue to suck up public money and be a burden upon us all.
I think climate change and energy security are two different issues and should not be confused and neither should any resolutions be intermingled.
Cheers
Roger
http://www.rogerfromnewzealand.wordpress.com
Roger,
Correct me if I am wrong, but all investment in renewable energy in Australia is from private sources. There is a support for the industry through the mandatory renewable energy target of 20% by 2020, but it still is private investment.
Renewables are a new industry and will need some encouragement to get started, but don’t forget after a century of coal fired power stations, governments still provide support in one way or another.
Here is a current analysis of Govt subsidies applicable to fossil based and renewable energy sectors from Bloomberg Financial Services:
http://www.gizmag.com/government-subsidies-fossil-fuels-renewables-biofuels/15907/?utm_source=Gizmag+Subscribers&utm_campaign=252ad835e4-UA-2235360-4&utm_medium=email
Is AGL doing anything to support research into RE inventions?
What are they?
Cheers fro Ross in Melbourne
RE is fine and we do need to look at it since fossil fuel will eventually run out.
However, to completely (and quickly) change to non fossil fuel is impossible.
A lot of things in our daily life still require fossil fuel.
For example, I think it would take a while before we can have commercial airplanes that run off of battery/wind/solar/RE.
And what about the other stuff that is uses fossil fuel (petroleum) and are equally important to our daily lives, such as plastic, asphalt (all major roads in the world use this…bet you didn’t realize that!), wax, etc.
So yes, we do need cleaner source of energy, but saying no to petroleum/hydrocarbon is a silly thing as a lot of stuff around us which we use on a daily basis (not just gasoline) depends on it.
Would like to know if agl are looking into biomass sources such as wheat straw to produce electricity
Great question…we have an update for you.
AGL is pursuing the option of using Bana Grass as an energy crop product to supplement the fuel supply for its existing biomass power stations located in Gympie QLD to increase the assets operating profile.
It is crucial for the financial viability that energy crops produced in accordance with the conditions of regulation 9 of the Renewable Energy (Electricity) Regulations 2011 be added to list of acceptable fuels.
AGL believes that the use of Bana Grass as an energy crop complies with regulation 9 and has submitted a letter to the Office of the Renewable Energy Regulator seeking accreditation of Bana Grass as an Energy Crop under regulation 9.
Bana grass has long been cultivated in Queensland as a windbreak for conventional crops due to its exceptionally high growth rates, non-invasive characteristics and drought resistance.