Adoption of renewable energy crucial — Greenpeace

ENVIRONMENTAL group Greenpeace yesterday called anew for an “energy revolution,” urging the Philippines and the rest of Asia to take serious steps in promoting renewable energy as doing so would boost the region’s economy and create jobs.

In a report titled “Energy Revolution: A Sustainable Energy Outlook,” Greenpeace said that in a scenario where the full potential of renewables was harnessed, 94% of the needs of developing Asia, including the Philippines, could be provided.

By 2050, renewable energy should account for 80% of world energy supply (from 13% currently) to allow a drastic reduction in harmful carbon emissions, the group recommended, claiming that latest data has shown that cutting emissions by half in 40 years from 1990 levels won’t be enough to keep the average global temperature rise to two degrees Celsius.

“An even greater reduction is needed if runaway climate change is to be avoided,” it said.

“This is still possible, but time is running out. To stay within this limit, global greenhouse gas emissions will need to peak by 2015 and decline rapidly after that, reaching as close to zero as possible by the middle of the 21st century.”

Greenpeace said governments must phase out some $300 billion in yearly subsidies for fossil fuels and nuclear energy, internalize external costs of energy production through cap and trade emissions trading, and mandate strict efficiency standards for energy-consuming products.

“Hazardous” nuclear power should be phased out as further expansion would be “unrealistic and expensive”.

It also called for legally binding targets for renewable energy, reforms in the electricity market by guaranteeing priority access to renewable energy generators, defined and stable returns for investors under “feed-in tariffs,” and more research and development for renewable energy.

Greenpeace’s scenario will require $17.9 trillion in global investments until 2030, $837.5 billion of which should come from developing Asian states, mostly in geothermal and hydro power.

“Renewable energy will initially cost more to implement than existing fuels. The slightly higher electricity generation costs will be compensated for, however, by reduced demand for fuels in other sectors such as heating and transport,” it said.

The additional generation cost is estimated at $31 billion annually by 2020.

The report noted that the Philippines was second only to the United States in geothermal energy production. The US has 3,000 megawatts (MW) of installed capacity while the Philippines has 1,900 MW.

The Philippines also has the largest wind farm in Southeast Asia — the 33-MW Bangui Bay wind farm operated by North-wind Power Development Corp.