Spurred by innovation, increased competition, and policy support in a growing number of countries, renewable energy technologies have achieved massive technological advances and sharp cost reductions.
Japan, South Korea, and Taiwan are deficient of domestic fossil energy sources and depend significantly on imported fuels. Since the oil shock in the 1970s, all three countries have promoted renewable energy as an alternative energy source to improve energy security.
Mongolia can use its vast renewable energy resources to bolster energy security, reduce pollution, meet global climate commitments and develop regional electricity exports, finds Mongolia Renewable Readiness Assessment prepared jointly by IRENA and Mongolian Ministry of Energy.
The future of renewable energy is fundamentally a choice, not a foregone conclusion given technology and economic trends, according to this report.
This report provides a comprehensive overview of the renewable energy market, industry, investment and policy developments worldwide. It covers recent developments, current status, and key trends; by design, it does not provide analysis or forecast.
The report provides recommendations to develop and implement policy reforms supporting market formation and fostering a favorable climate for investments in the sectors of energy efficiency and renewable energy sources.