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(From Reinsurance)
By Jeremy Golden.
Alternative or renewable energy (RE) - defined as wind, solar, biomass, geothermal and wave/tidal power - so far accounts for a small proportion of total electricity generated. In Europe, easily the fastest growing region worldwide for the installation of new facilities, RE only generates approximately 6% of electricity consumed.
However, the European Commission (EC) has made the reduction of carbon dioxide (CO2) emissions, which contribute to climate change and global warming, core to its energy policy. Since electricity is mainly generated by burning fossil fuels like coal, oil and gas which release ...