First the good news: more renewable energy came on line in 2012 than in any other year, mainly because the cost of solar installations decreased by approximately 30%.
Now the bad news. Investment in future renewable energy declined in 2012, in part a reaction to governments withdrawing from programs that supported renewable energy. The Province of Ontario is an example: it withdrew from a major Feed In Tariff (FIT) program that had encouraged large scale investment in renewable energy, although it did retain this program for smaller energy projects promoted by municipalities.
More good news: led by China, the level of investment in clean energy by the developing world is getting close to the level of investment by the developed world. Ulf Moslener, head of research of the Frankfurt School in Germany, explained that developing countries are finding that green energy is far less expensive than relying on fossil fuels. Poorer countries want to reap the benefits of stable energy costs, new jobs, improved air quality and reduced health and climate damage.
And more bad news: the projection of the percentage energy generated from renewable sources in 2035 is only fractionally greater than today. Fossil fuels will continue to be the main generator of electricity as they are today.
We wish we didn’t have to end on this note but . . . . concluding with bad news:
As reported by Inter Press Service, Michael Liebreich, chief executive of Bloomberg New Energy Finance, highlighted Canada’s obsession with its tar sands as a good example of a government’s failure to comprehend that future economic success will be based on clean energy sources. “They are not serving the public interest,” he said.