ENVIRONMENT

GLOBAL WARMING AND RENEWABLE ENERGY

‘Renewable energy as a source of low carbon, indigenous electricity is central to reducing emissions.’

‘we envisage the energy system in 2020 being much more diverse than today. At its heart will be a much greater mix of energy, especially electricity sources and technologies …. including wave, tidal and windfarms.’

Global warming has concentrated the minds of politicians and public alike and the economic effects have been starkly illustrated by the Stern Report: The Economics of Climate Change 2006 (see downloads section). This report has, almost overnight, brought the whole renewable energy question into the heart of policy for all major UK and Scottish political parties.

Global warming is driving forward an expansion of interest in the commercial development of sources of renewable energy. At the forefront of these is tidal power because it is:

1. a predictable source of energy. Output from tidal power can be predicted over years and consequently economic and commercial forecasting is simpler and more accurate.
2. an invisible source of energy. The RTT is gravity based and positioned on the sea floor. It is totally invisible and therefore removes many of the concerns of environmentalists with regard to aesthetics. In addition evidence shows that these turbines are unlikely to cause harm or disturbance to indigenous marine life.
3. an economic source of energy. As tidal technology matures and the known economies of scale take effect the commercial balance with regard to tidal power as opposed to other well established energy sources will become more and more competitive. Lunar Energy has set itself a commercially realistic full economic cost target of 2.45p to 5.9p per kWhr for electricity generated from the RTT. This target price is in line with the EPRI estimated price as set out in their summer 2007 Journal (see downloads section) The great advantage of harnessing tidal power is that the tidal currents used to supply this energy are entirely predictable over time and are free.
   

‘We need a shift towards energy sources and generation technologies that produce much less or no carbon.’

Global warming necessitates a sea change in attitudes towards both our creation and use of energy and in the way all human beings utilise their planet. This coming change will provide a commercial opportunity for those far sighted investors willing to get involved.

‘we face a challenge ….. that we must be up to in order to save the climate balance on which our civilisation depends.’