(Reuters) A plan for a new global research programme aimed at driving down the costs of renewable energy more quickly has drawn serious interest from the world’s leading economies, its proponents say.
The Global Apollo Programme would be an internationally coordinated scheme of research and development focusing on electricity storage technology, smart grids and renewables, according to a report prepared by scientists, economists, former chief executives and academics.
The Apollo programme should be set up with the aim of making renewable energy cheaper than new coal plants in sunny parts of the world within 10 years and worldwide from 2025, the leading climate experts said.
“The $6 billion that governments spend on renewable RD&D is far too low. It compares poorly with the $101 billion spent worldwide on production subsidies for renewables, not to mention…for fossil fuel energy (totalling $550 billion).”
Categories: Economic Indicators