Wind, solar and other renewable power capacity grew at its strongest ever pace last year and now produces 22% of the world's electricity, the International Energy Agency said on Thursday in a new report. More than $250bn (£150bn) was invested in "green" generating systems in 2013, although the speed of growth is expected to slacken, partly because politicians are becoming nervous about the cost of subsidies. Maria van der Hoeven, the executive director of the IEA, said governments should hold their nerve: "Renewables are a necessary part of energy security. However, just when they are becoming a cost-competitive option in an increasing number of cases, policy and regulatory uncertainty is rising in some key markets. This stems from concerns about the costs of deploying renewables." She added: "Governments must distinguish more clearly between the past, present and future, as costs are falling over time. Many renewables no longer need high incentive levels. Rather, given their capital-intensive nature, renewables require a market context that assures a reasonable and predictable return for investors." via The Guardian.
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