IEA urges members to step up renewable energy R&D

Industrialized countries must boost spending in research and development in renewable energy and not focus on subsidizing the use of green but costly electricity, the West’s energy watchdog said on Tuesday. The International Energy Agency (IEA), adviser to 26 industrialized nations on energy policy, said that spending in renewable energy research and development by its members had dropped to two-thirds of peak levels of $2 billion reached after the oil shocks of the 1970s.

yahoo