“Renewable Energy Now Accounts For 80% Of New Generation (What’s The Catch?)”
According to the latest report from the International Energy Agency, renewable energy now accounts for 80 percent of new generation among the 34 developed countries in the Organization for Economic Co-operation and Development. But, don’t break out the bubbly just yet. The new IEA report raises a number of concerns about the prospects for continued rapid growth in renewable energy investment through 2020, and the picture gets particularly murky when you throw non-OECD members into the mix.
Uncertainty about the political commitment to renewables in both developed and developing countries is making the future unclear. Policy makers want economic growth; and hydrocarbons are still cheap enough to be attractive energy sources. In addition the hydrocarbon energy lobbies are getting more interest.