Published Date : May 30, 2016
Renewable or non-exhaustible energy is a growing and increasingly important part of the worldwide energy mix. Nevertheless, the global renewable energy market is restrained at present by the sometimes-prohibitively high prices of the infrastructure required for sustained generation and distribution of renewable energy. This increases the price of the electric power generated from the renewable power source.
Dedicated research into attempting to make renewable energy infrastructure more efficient is thus one of the most promising avenues for research entities in the global renewable energy market. Research in this field could also go a long way towards eliminating another key restraint on the global renewable energy market: The intermittent supply of power gained from renewable energy resources.
Emerging Economies Developing into Key Regional Market for Renewable Energy
Going by the most recent Renewable Energy Country Attractiveness Index (RECAI), the top spot in the index of countries most conducive to implementation of and advances in renewable energy was held by the U.S. The region has witnessed early adoption of several renewable energy sources and steady support from successive governments, which has brought about a plethora of opportunities in the sector of renewable energy.
The latest RECAI also depicts the eye-catching rise of developing countries in terms of their potential to foster renewable energy resources. Emerging countries such as China, Brazil, India, Chile, and Mexico occupy top 10 positions on the RECAI. A corresponding decrease can be observed in the positions of European countries, which have fallen behind the potential exhibited by the aforementioned developing countries. 20 countries in the 40-country RECAI are emerging economies. African countries, in particular, earned notable spots in the latest RECAI, with 4 nations claiming top 30 spots. The dominance of emerging countries in the renewable energy market is no fad and is expected to be a lasting feature of the global market for years to come.