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This report looks at how investors have responded to the need to internalise investment risk in power generation and how these responses have affected the organisation of the power sector and technology choices. This study looks at several cases of volatile prices in IEA countries’ electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment.
Electric utilities. --- Electric Utilities --- Electric power production --- Investments --- Marketing --- Risk --- Hedging (Finance) --- Business & Economics --- Industries --- Consumer goods --- Domestic marketing --- Retail marketing --- Retail trade --- Investing --- Investment management --- Portfolio --- Electric power generation --- Electricity generation --- Power production, Electric --- Electric companies --- Electric light and power industry --- Electric power industry --- Options (Finance) --- Speculation --- Financial futures --- Economics --- Uncertainty --- Probabilities --- Profit --- Risk-return relationships --- Industrial management --- Aftermarkets --- Selling --- Finance --- Disinvestment --- Loans --- Saving and investment --- Electric power systems --- Electrification --- Electric industries --- Energy industries --- Public utilities --- Electric power production. --- Investments. --- Marketing. --- Risk. --- Electricité --- Investissements --- Risque --- Production
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Technology can make a significant contribution to reducing greenhouse gas emissions from the energy sector. But it can only do so if efforts to develop and deploy advanced energy technologies are redoubled and if technological advances are combined with measures that discourage the emitting of carbon by making it more expensive. Efforts with a near-term focus are needed, but so is work that will only bear fruit years from today. Both are vital. Both must start now and continue over time. Government and industry both have indispensable roles in the task of maximising energy technology’s contribution to emissions reduction. This report is a call to action to IEA Member countries to find ways, compatible with their own circumstances, to achieve that end. It reviews a large number of technologies that could prove important in reducing energy-related emissions in both the near and long term. It points out how the availability of advanced energy technology can mitigate the cost of emissions reduction, and it outlines how traditional “barriers” to using new technology can be overcome. It deals directly with the issue of what governments can do in this area and points out where government action is needed. The report builds on two previous IEA reports – Energy Technologies for the 21st Century and IEA/OECD Scoping Study: Energy and Environmental Technologies to Respond to Global Climate Change Concerns.
Environmental protection. Environmental technology --- Climatic changes --- Energy consumption --- Greenhouse gases --- Government policy --- Environmental aspects --- 502.36 --- 502.53 --- 504.064.4 --- 502.36 Scientific and technical conservation measures. Environmental engineering --- Scientific and technical conservation measures. Environmental engineering --- 504.064.4 Measures in conservation engineering. Including: wasteless and low-waste technology --- Measures in conservation engineering. Including: wasteless and low-waste technology --- 502.53 The unbalanced or disturbed nature complex as a whole. Global change --- The unbalanced or disturbed nature complex as a whole. Global change --- GHGs (Greenhouse gases) --- Heat-trapping gases --- Gases --- Consumption of energy --- Energy efficiency --- Fuel consumption --- Fuel efficiency --- Power resources --- Energy conservation --- Changes, Climatic --- Changes in climate --- Climate change --- Climate change science --- Climate changes --- Climate variations --- Climatic change --- Climatic fluctuations --- Climatic variations --- Global climate changes --- Global climatic changes --- Climatology --- Climate change mitigation --- Teleconnections (Climatology) --- Global environmental change
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Wind power could generate up to 18% of the world’s electricity by 2050, compared with 2.6% today, the new report Technology Roadmap: Wind Energy – 2013 Edition finds. The nearly 300 gigawatts of current wind power worldwide must increase eight- to ten-fold to achieve the roadmap’s vision, with the more than USD 78 billion in investment in 2012 progressively reaching USD 150 billion per year. The report, an update of a document first published in 2009, envisages a much larger penetration of wind power than the 12% share on global electricity generation by 2050 considered in the first roadmap. It sees China overtaking OECD Europe as the leading producer of wind power by 2020 or 2025, with the United States ranked third. Wind power deployment under this vision would save up to 4.8 gigatonnes of CO2 emissions per year by 2050, with China providing by far the largest reductions. The reduction is equivalent to more than the current European Union annual emissions. Recent improvement in wind power technologies as well as the changing global energy context explain the higher long-term target. Turbines are getting higher, stronger and lighter, while masts and blades are growing even faster than rated capacity, allowing turbines to capture lower-speed winds and produce more regular output. This facilitates installation in places beyond the best windy spots on mountain ridges or seashores as well as integration into power systems despite the variability of winds. The cost of land-based wind power is close to competitive with other sources of electricity in an increasing set of circumstances. In some countries such as Brazil, wind power has prevailed over fossil alternatives in auctions for long-term power purchases, thanks to the hedge it provides against possible future price increases for fossil fuels. Offshore wind power remains expensive and technically challenging today, but has an importa
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