The Renewable Energy Working Party of the International Energy Agency, Paris, has called for the energy industry to speed the rate of adoption of renewables.
The call came at a time when the U.K. regulator Office of Gas and Electricity Markets (Ofgem) reduced its levy on fossil fuels to support renewable energy projects because of slow take-up of renewables schemes.
Ofgem said its fossil-fuel levy for England and Wales would be cut to 0.3% from 0.7% beginning Oct. 1: "The reduction follows a slow-down in the expected rate of commissioning schemes approved at the last rate-settling exercise."
Cooperation needed
The IEA said that, to solve the slow implementation problem, industry and governments must work towards reduced technology costs, innovative financing mechanisms, stable energy policies, fair access for renewables, information and training, enhanced research and development efforts, and international cooperation.
"The current renewable energy market is small but growing," said the agency. "The increased push to develop renewables in IEA member countries is largely driven by environmental concerns, notably the fear of global climate change. In the developing world, renewable energy technologies can offer needed energy services to regions that are poorly served by conventional energy.
"Renewable energy development is at a crossroads. Notable progress in installing renewable systems has been made in recent years; however, the base is relatively small and the industry is still young.
"Yet, momentum has picked up," said IEA. "There is significant public support, and the technologies are becoming more reliable and cheaper. Governments are adjusting their policies to encourage greater market penetration of renewable energy and to foster industries based on renewable energy sources."
