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Renewables now a viable option for governments: ADB

July 25, 2014

Renewables now a viable option for governments: ADB

The 2014 Annual Evaluation Review released by the Asian Development Bank (ADB) puts pressure on Asia’s governments to provide affordable energy to power the region’s growing economy and population while also meeting pressing environmental objectives.

Vinod Thomas, Director General of Independent Evaluation at ADB, noted that governments in Asia are under significant pressure to keep energy prices from rising, and renewable energy can seem like an unattractive option due to high start-up costs.

“Fortunately, the cost of renewables is starting to fall, which is easing tensions between vital environmental objectives and those of an affordable and renewable energy supply,” said Thomas.

“The emerging trend presents countries with an opportunity to step up policies and investments for switching to a low carbon path. This is the right time for governments to put in place policies to encourage investment in renewables”.

Read more at Eco-Business.

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