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capital costs, improved reliability and higher conversion efficiencies, much more work will be needed over the next 50 years. R&D must lead to market related products and services. There has to be a clear distinction between wide-ranging ‘long-term scientific research’ and well focussed ‘near-term market R&D’. Particular consideration should be given to achieving cost-effectiveness. The world needs a new generation of Renewables technologies to reach the mainstream market for heat and for fuels, as well as for electricity and public funds need to be used as effectively as possible. Environmental and social issues associated with public acceptance and capacity build-up also needs to be addressed. Certain technologies face seasonal fluctuations and intermittency. It is necessary to address integration of new technologies into the grid, including specific technologies for storage and grid management. Demonstration is called for in most areas, notably concentrating solar power, ocean energy, novel bio-energy technologies and other options, in order to test new findings and act as a precursor to market deployment. Regulatory frameworks are needed in areas addressing heating and cooling, such as bio-energy, solar heating and geothermal heat pumps. Based among others on the extra long cycles in the energy system and on the commodity nature of energy, the entry threshold for any new energy source will be high. Another threshold is that price is the main factor in the competition. Therefore, all renewable energy sources except for large industrial bio-energy (paper and pulp industries), large-scale hydro and some niche Renewables applications seem still to need public support to be cost-competitive. Public support will be necessary to bring new energy technologies to a volume market, which requires a political vision and decision. EU funds are needed to strengthen existing competencies in the renewable energy sphere and to intensify research and technological development according to the main principles of sustainable development. Special issues on Renewables technologies The principle lessons learned over the last thirty years are that the move towards sustainable renewable energy options depends on resource availability, technical maturity and finally a policy environment that is conducive to both technology improvements as well as commercialisation. Because of the diverse nature of renewable sources of energy, it is important that each country or region promote technologies and options that are well suited to specific resource availability. While renewable energy production rises rapidly in absolute terms, shares have stagnated. Thus more R&D funding and initiatives in a larger number of countries will be necessary to raise renewable energy percentages in global energy supply. 49PDF Image | Economic Perspectives of Renewable Energy Systems
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