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ity”. The Intergovernmental Panel on Climate Change (IPCC) has concluded that “global carbon dioxide (CO2) emissions must be reduced at least 70 percent over the next 100 years to stabilize atmospheric CO2 concentrations”

Considerable technical change will be needed to maintain growth in economy combined with large CO2 emission reductions at a cost as low as possible (Grubb, 1997), however the timeframe is not clear as many ways lead to certain CO2 stabilization levels which correspond to fixed increasing amounts of CO2 that can be released during the target year. Furthermore, economic arguments were raised favoring deferred emission abatement pathways (Wigley, 1996). There is a possibility that unexpected political objectives may trigger the need of short-term investments in long life capital stock, this leads to high costs due to the early retirement of long life capital stock units. Additionally, there is a high risk of only focusing on short-term emission reduction targets while creating technical change policies in relation to climate change which may result in a framework unable to achieve long-term future targets (Sande′n, 2005).

The increasing concerns of climate change has played one of the key roles in supporting the development of renewable energy sources, which are environmentally friendly and impose low or zero carbon emissions released into the atmosphere. In order to sustain the development of renewables it is essential to meet the stabilization scenario for carbon dioxide reduction and show that they can be competitive in cost with energy from other sources (Houghton, 2004, p.306). Houghton also stated that “under some circumstances renewable energy sources are already competitive in cost (e.g. local sources of energy), however where there is a direct competition with fossil fuel energy from oil and gas, many renewable energies at present compete only marginally”. Conversely, fossil fuels such as oil, coal and gas have limited resources and “at some time between 2010-2020 the world's supply of oil and gas will fall below the level required to meet international supply” (Oil and gas running out much faster than expected, 2003).

As the result the costs of fossil fuels will increase which will unveil the opportunity for renewable energy sources to compete more easily (Houghton, 2004, p.306).

A recent report from the UN environment programme said “investment in renewables such as wind, solar and biomass jumped 43% last year and may be about to increase by much more substantial amounts”. It also predicted that renewable energy sources could supply approximately a quarter of the world's electricity by 2030. This fast development of renewable energy sources occurred as a result of rising demand for energy, security of energy supplies and the environmental and the dangers associated with the burning of fossil fuels (Sawin, 2004, p.5). The additional drivers for the rapid expansion of renewables incorporate the political support for renewable energy around the world, dramatic cost reductions and significant technology advances (Sawin, 2004, p.5).

However, Karl Mallon in his book “Renewable Energy Policy and &tar3本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。