Renewables Still Struggling To Seize Big Share Of Energy Market

Wind turbines, wave technology, solar panels, hydroelectric power stations, fuel cells and biomass plants account for just 14 percent of the energy consumed in the world today, according to the International Energy Agency (IEA). This compares to six percent for nuclear power and a massive 80 percent for fossil fuels — oil, coal and gas –, which in addition to becoming scarce and increasingly pricy are also the major producers of the greenhouse gases blamed for global warming.

The IEA hopes to encourage its 26 member states to invest more in research and development on renewables. Between 1987 and 2003, renewables accounted for only 7.6 percent of these 26 nations’ energy research budget. And 67.8 percent of that small amount was provided by just three countries — Germany, Japan and the United States.

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