The world is now shifting towards renewable energy owing to its innumerable benefits. The renewable energy is present in the natural elements like the sun, wind and the water. This energy is regenerative in nature and can be produced again on completion. The renewable energy resources are unlimited in supply and does not cause any harm to atmosphere on combustion like the fossil fuels.
The ongoing recession has added to this need for renewable energy which is available in plenty. Although setting up a plant may incur high costs but once the plant is set, it will cover up the costs incurred. This makes renewable energy highly cost effective.
Investment in the renewable energy sector has grown in recent times. In 2008, the overall investment into the sector turned out to be around 155 billion dollars. There is a need to channel these investment funds properly to promote the energy sector. This is what the world energy research
does. It also enables the investors to choose from a wide range of options that can benefit them the most.