And create thousands of new jobs and prevent millions of tons of CO2 from being released.

CSP uses mirror to focus sunlight on water. The reaction creates

Advertisement

steam that turns turbines and generates electricity. Unlike

photovoltaic solar panels, CSP only works in places with reliable sunny weather, such as parts of the southern U.S., North Africa, Mexico, and India.

Sven Teske, co-author of the study, estimates that current

investments in CSP ($2.8 billion) could grow under a moderate scenario

to over $11 billion by 2010 and produce 7% of the world’s electricity

generating capacity. By 2050, investments could grow to $93 billion.

This all assumes, of course, that political and investment barriers are

removed in short order. But even in a modest scenario, CSP could grow

to 830GW of installed capacity by 2050, providing 12% of the world’s

power needs. Combined with geothermal and wind farms, alternative

energies could provide a significant portion of our overall energy

needs in the next few decades.

Announcement from our Chairman, David C BarclayThe World Renewable Energy Association are delighted to announce the launch of a brand-new initiative exclusively for its members. The Renewable Energy Finance Hub has been launched following the largest survey undertaken with UK businesses conducted by WoREA in conjunction with the UK Government and its partners. Reduce your businesses carbon footprint today and begin your journey towards net zero!