The writing is in the wall that the energy market is at a transition point. Grid electricity networks are set to face a death spiral in future years. Their networks need upgrading and their costs to run are ever increasing. As Governments around the world mandate a reduction for carbon emissions, the doors for renewables further opens. It won't be just one form of renewable that will rein as the energy market is so large that there is room for solar, wind, wave and others. You only need to look at what is happening in the next 15 years with the expected population growth of over 2 billion people to over 9 billion in total. Still in the 21st century roughly 20% of the world's population does not have access to electricity.
With testing validation of the Protean wave technology currently occuring, shareholders IMO are at the forefront of something very exciting. Commercialisation is then the next step.
Given that so many of the world's population reside around coastal areas, cost effective wave technology could play a real part in meeting the world's future energy demands.
We are in a period of unprecedented expansion of energy demand. Global energy use has grown by more than 50% since 1990, and must keep growing to support continued development. As much as a quarter of today’s energy demand was created in just the last decade, and since 2000, all the net growth has occurred in non-OECD countries, more than half of it in China alone. Past projections often failed to anticipate these dramatic shifts, which nonetheless have affected the energy prospects of nearly all countries. The future is now even more uncertain, as projections show anything from a 20% to 35% expansion of global energy demand over the next 15 years.
A major wave of investment will be required to meet this demand: around US$45 trillion will be required in 2015–2030 for key categories of energy infrastructure. How that money is spent is critically important: it can help build robust, flexible energy systems that will serve countries well for decades to come, or it can lock in an energy infrastructure that exposes countries to future market volatility, air pollution, and other environmental and social stresses. Given that energy production and use already accounts for two-thirds of global GHG emissions, and those emissions continue to rise, a great deal is at stake for the climate as well. Making the most of our energy supply
The greatest opportunity to benefit from modern energy is for the 1.3 billion people who have no access to electricity, most of them in Africa and Asia, and the 2.6 billion who lack modern cooking facilities. Furthermore, in many urban and peri-urban areas in the developing world, large numbers of people have only partial or unreliable access to electricity.
Proven routes to electricity access through urbanisation and grid extension are now complemented by the potential for off-grid and mini-grid solutions. Falling costs, new business models, and technological innovations are making these increasingly cost-effective. In addition to finance and policy, more innovation and experimentation are needed, not least to ensure these solutions prove their ability to supply low-carbon electricity as demand grows.
Renewable energy sources have emerged with stunning and unexpected speed as large-scale, and increasingly economically viable, alternatives to fossil fuels, particularly in the power sector. Over a quarter of the growth in electricity generation in 2006–2011 came from renewables. Hydropower has long been a major energy source, but rapidly falling prices are also making wind and solar power increasingly cost-competitive with coal and gas in many markets. In Brazil, for example, wind power was the cheapest source of new power at recent auctions, and South Africa has procured wind power at costs up to 30% below those of new coal-fired power.
The next 15 years offer an opportunity to create better energy systems that also reduce future climate risk. Achieving this will require a multi-faceted approach. The starting point must be to get energy pricing right, implementing energy prices that enable cost recovery for investment and less wasteful use of energy, and removing subsidies for fossil fuel consumption, production and investment. Other, complementary initiatives also will be required. One key task is to increase resource efficiency and productivity – to make the most of our energy supplies. Some countries have already made significant gains in this regard, but there is much untapped potential. It also will be necessary to expand our energy supply options. Innovation in technology, as well as business models, financing systems, and regulatory frameworks, is already doing this, from unconventional gas and oil, to the rapid growth of renewable energy technologies.
SHE Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
