Clean energy momentum increasing

An expert of energy policy at the University of Exeter has advised that renewable, energy efficient and flexible electricity sources are being adopted by policy makers and investors throughout the world.

A journal published in Nature Energy by Professor Catherine Mitchell of the Energy Policy Group at the University highlighted that investment in renewable electricity now exceeds fossil fuel. The increasing number of policies to improve efficiency are making energy systems more flexible and are pointing towards a global momentum.

Professor Mitchell said:

“While the world is still dependent on fossil fuels, because energy systems have long lives, it has got to the point where more than half of global electricity system investment is in renewables rather than fossil fuels investment. It is a sign that globally we have moved our public policy discourse and investor preferences from the old ‘dirty’ energy system to a clean one”.

Countries such as Denmark and Germany adopted renewable electricity in the 1990s. It led to an understanding of the energy system and how it operates and in turn reduces prices.

Mitchell continued:

“They are just trying to act as good global neighbours and have realised that meeting their climate change reduction commitments is no longer as expensive as they thought, and it helps, rather than makes worse, the security of their energy systems”.

The Professor did however stress that the challenge of climate change has not yet been met. The policy statements need to be backed up by firm action.

She continued:

“The recent United Nations meeting on climate change in Paris and its agreements has led to strong support for individual country’s sustainable energy policies. However, these statements need to be backed up with appropriate governance – policies, institutions, incentives and energy system rules - to make sure they are implemented and are successful.”