Upcoming Initiative to Make Solar and Wind Energy Cheaper
Published By : 02 Jun 2015 | Published By : QYRESEARCH
Making wind and solar energy available at a price lower than that of new coal in next 10 years has just been announced at the Global Apollo Programme to Combat Climate Change, which was initiated by the scientists and economists in the United Kingdom.
This program is expected to be remodeled on International Technology Roadmap aimed for Semiconductors, which has resulted in making the prices of semiconductors lower for a duration of 30 years now. Besides the solar and wind generation, another target area for the Apollo Programme is to aim at cost reduction of these renewables and also include electricity storage and its transmission.
John Browne, the former BP chief executive, chairman of the Grantham Research Institute on Climate Change & the Environment called Nicholas Stern, and David King the former United Kingdom’s government Chief Scientific Advisor are among the authors who have created the plan. According to them, they believe that such a massive technological and scientific program of research is required to cut down the cost of carbon free energy which is below that of the energy based on gas, coal, and oil.
This plan is going to be discussed at the G7 summit/meeting which will happen on June 7th to 8th in the nation Germany. It is projected that by end of 2015, several major countries of the world would join this program. The participating countries are expected to contribute at least 0.02% of the GDP to public expenditure on the Apollo Programme for a duration of 10 year.
According to David King, this Programme has already attracted a substantial interest from countries such as the United States, the United Arab Emirates, China, Korea, Japan, India, and Mexico.