The Future for Alternative Energy
Calvert White Paper: The Future for Alternative Energy
By Paul A. Hilton, Calvert Jens Peers, KBC Asset Management International
Higher oil prices and growing worldwide demands for energy are straining traditional energy resources globally. At the same time, alternative energy has captured public, media, and political attention as a potential solution to the pressing issue of climate change — which is widely believed to be not only threatening the environment, but adversely affecting companies, industries, and whole economies. Thus, the prospects for alternative energy sources, including wind, solar, and bio-based energy appear bright, and potentially profitable, over the long term. In just
Alternative / Renewables Energy Research in California
Alternative/Renewables Energy Research in California.
• • • • • • • • California’s Energy Picture Key Policy Drivers for Alternative Energy/Renewables Barriers that could Impede Development of Renewables Public Interest Energy Research Program (PIER) PIER Renewables Portfolio Summary PIER Renewables Vision Policy Goals Why CCA?
California’s Energy Picture
•The Nation-State of California: - 5th largest economy in the world - 5th largest consumer of energy in the world - 2nd largest consumer of gasoline and diesel in the world – only the US consumes more - Population – expected to grow from 36 million now to 45 million by 2025 •California
Renewable Energy
Renewable energy sources – solar, wind, biomass, geothermal and hydro – could make important contributions to sustainable development. Currently, their exploitation in commercial markets is low, being constrained by costs and uncompensated benefits (externalities), as well as intermittent supplies and other technical and institutional considerations. But they hold promise for: enhanced energy security by providing supplies that are abundant, diverse and indigenous (non-import dependent), with no resource exhaustion constraints; reduced global and local atmospheric emissions when used in place of fossil fuels; improved options to meet specific user and infrastructure needs, particularly in rural areas and in newly industrialising and
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