19 June 2008 | Luca Del Buono

 

Renewable energy is approaching a "tipping point" and should expand dramatically in the next decade, further narrowing the gap between alternative forms of energy and fossil fuel use, said environmental and economic experts at a forum here Monday.

"Increasing market demand, policies, and investment trends are creating a perfect storm for the growth of renewable energy across the world," said Christopher Flavin, moderator of the forum and president of the Worldwatch Institute.

"We are at a point where all of these factors will allow renewable energy to move into the mainstream."

Worldwatch fellow Eric Martinot and Michael Liebrich, CEO and founder of the investment analysis firm New Energy Finance, presented an optimistic picture for the future of renewable energy as global investment in the sector continues to expand.

Sixty-six countries have set policy targets to increase their investment in renewable energy, including 22 developing countries and all 27 EU countries, said Martinot, lead author of Worldwatch's "Renewables 2007 Global Status Report."

"Growth [in renewables] is driven by policy rather than efficiency," added Liebrich, emphasizing that the market "[doesn't] need lots of new policies because the policies we've got are generating lots of growth already -- although we can't let those policies expire."

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