Investment in clean energy, such as wind and solar, in developing countries - seen as critical by their governments if they are to maintain economic growth and bring power to poor communities - must double on average between now and 2020, a new report shows. But, the report argues, governments of richer countries must come forward with some up-front cash to help give the private sector confidence to make the transformational investments needed.
The new study called Investing in Clean Energy by the Global Climate Network, a unique alliance of think tanks, examines in detail the costs of large increases in clean energy projects in four developing countries. It finds that investment in clean energy must grow from $34 billion in 2009 to an average of $63.6 billion a year between 2010 and 2020 if existing ambitions to meet climate change and energy supply targets are to be met. Read the full report here.
Source: Oneworld.net, UK.
