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Economic Perspectives of Renewable Energy Systems

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Economic Perspectives of Renewable Energy Systems ( economic-perspectives-renewable-energy-systems )

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Achieving greater energy supply from hydropower does not require technological breakthroughs, huge R&D expenditures or radical changes to development of hydropower resources. Current requirements include continuous improvements in technology, increased public acceptance and hydropower project approvals supported by government policy. In addition, the technology is at a stage in which implementation and development should be financed and supported jointly by the public and private sectors. Regarding R&D priorities of bio-energy, it focuses on overcoming the environmental, institutional, technical, non- technical and financial barriers to the short- and long- term deployment of bio-energy technologies. Additional R&D priorities for bio-energy include: making available relatively cheap feedstock’s and further increasing conversion (short term); capitalising on opportunities offered by bio-refineries (medium term); and producing hydrogen from biomass and cultivating, in sustainable ways, large amounts of biomass worldwide (long term). Efforts must also be undertaken to strengthen social and environmental integration of bio- energy along the complete chain, i.e., from biomass production to provision of energy services to the consumer. Geothermal has identified several priority R&D areas in which significant progress will help accelerate its worldwide advancement and has aimed to address them. These are related to cost reduction, sustainable use, and the expansion of the technology for new applications and into new geographical regions. With greater funding and manpower available, more rapid achievement of the priorities would be possible. The benefits would include an extension of the use of geothermal for power generation, and direct heat use, to areas far from tectonic plate boundaries and covering much larger regions. During the last five years, company R&D has put emphasis on developing larger and more effective wind turbine systems, utilising knowledge developed from national and international generic R&D programs. Continued R&D is essential to provide the necessary reductions in cost and uncertainty to realise the anticipated level of deployment. Continued R&D will support revolutionary new designs as well as incremental improvements. Researchers will improve understanding of how extreme wind situations, aerodynamics, and electrical generation affect wind turbine design. The priority research areas include increasing value and reducing uncertainties, continuing cost reduction efforts, enabling large-scale use, and minimising environmental impacts. Commercially, PV technology is currently dominated by two module technologies, crystalline silicon (c-Si) and thin film modules. Wafer based crystalline silicon currently controls 90% of market share. The thin film market share has decreased over the past ten years as crystalline silicon production has increased. Thin films have the important potential to extend the PV learning curve beyond the point which may be reached by crystalline silicon technology; as emerging technologies, thin films could compete with C-Si but further development and scaling up of manufacturing is necessary. The share of thin-film technologies is expected to increase after 2010. It is estimated that about half of the future cost decreases for PV will be the result of R&D into improving materials, processes, conversion efficiency and design. Substantial cost reductions can also be gained through increased manufacturing volume and economies of scale. Increasing the size of components and plants will also reduce costs, as well as streamlining installation procedures. 50

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