Renewable energy and energy efficiency : assessment of projects and policies

Abstract

Energy-efficient projects use alternative technologies, fuels and management systems to reduce heat and electricity consumption. Renewable energy-supply projects produce heat and electricity using sources of energy which are regenerated over short time periods. Their recent rise to prominence in modern society has been driven by their low environmental impacts relative to fossil-fuelled alternatives. However, as they mature, energy-efficient and renewable energy technologies must demonstrate not only their environmental benefits but also their economic competitiveness. This book focuses on the assessment of projects using approaches that take into account the unique economic, environmental and energy characteristics of renewable and energy-efficient technologies. The global demand for energy-supply and efficiency projects has never been greater. Between 2012 and 2035, the demand for primary energy and electricity is estimated to increase by half and 70%, respectively, mainly in developing countries, while in developed countries the ongoing shift to energy-efficient and low carbon supply technologies are projected to continue. These trends are driven by many – mostly inescapable – factors: a growing global population, increasing wealth, uncertainty of fossil fuel price, security of supply concerns and enhanced policies to combat greenhouse gas (GHG) emissions and global warming. For example, by 2013, China, the European Union (EU) and Japan had adopted emission-reduction targets, while California, Australia,New Zealand and the EUhad introduced carbon emissions trading schemes. Assuming the implementation of such existing policy commitments only, it is projected that between 2010 and 2035, a $37tn investment will be required in the world’s energy-supply infrastructure and as much as $11.8tn will be spent on energy-efficient measures across all economic sectors (IEA, 2012). Renewable Energy and Energy Efficiency: Asse