Yet another Junk IPO Tarapur Transformers in the offing
April 26, 2010Lack of Global Agreement on Climate Change will lead to Trade Friction
April 30, 2010EREC has released a new report “Re-thinking 2050” outlining the roadmap to make Europe 100% powered by renewable energy by 2050 . The report was released in the European parliament .While the report discusses a lot about the benefits to getting to the objective,it has precious little on the specifics of the costs and policies required to get there.Lot on intent and little on action like the Copenhagen meet. The main features to the report are
- Develop a European wide supergrid
- Large scale growth in wind ,geothermal,oceanic,solar PV,solar thermal and biomass energy
- Solar at 50% and Wind at 25% will form the bulk of the renewable energy supplying Europe by 2050
- Transport to be mainly fueled by biofuels
- Heating and Cooling to be provided by biomass,solar thermal and geothermal energy
- Not a lot on policy measures except sticking to the European directives,carbon tax and removal of subsidies for fossil fuels.
The report is hugely bullish for solar PV and somewhat bullish for wind if Europe manages to implement this report