Renewable energy increases diversity of energy supplies and can replace diminishing fossil fuel resources over the long run. Their use in place of fossil fuels can substantially reduce greenhouse gases and other pollutants. Growth in demand for renewable energy in industrialised countries is leading to economies of scale; such growth enables increased access by the developing world. While experts believe that many new markets could sustain even higher rates of renewable energy penetration, numerous barriers remain. The cost of renewable energy technologies remains high, although it continues to fall. Some forms of renewable energy are now competitive in some market conditions.

The deployment of renewable energy requires appropriate economic, market and regulatory instruments. The diffusion and deployment of newly developed renewable energy technologies into markets are particularly important. A key strategy for market acceleration is removing trade and investment barriers between countries with significant renewable resources. Global strategies for accelerating the market penetration and diffusion of renewable energies need to engage both developed and developing countries. Governments can employ a number of strategies to improve the competitiveness of renewable energy.

 

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