For the past five years, GENI has been coordinating expert panel sessions at IEEE/PES conferences (Institute of Electrical and Electronic Engineers - Power Engineering Society). Entitled, "Harnessing the Untapped Renewable Energy Resources Around the World," these panels covered all six prime renewable energies: hydropower, wind, solar, geothermal, biomass and ocean energies. GENI's goal has been to highlight the untapped potential of each resource for the utility industry. (See these reports at http://ewh.ieee.org/cmte/ips/index.html)

Now, The United Nations Environmental Program has released the Solar and Wind Energy Resource Assessment (SWERA). This is a groundbreaking report that details the renewable potential in 13 developing nations is far greater than previously thought. In the Sri Lanka case, the assessment found wind energy potential of 26,000 MW — more than 10 times the country's installed electrical capacity! When developed, that resource would elevate the nation out of poverty in an environmentally sustainable manner.

What's important about this new SWERA study? It provides essential information to energy policy-makers and confidence to risk-adverse investors. Knowledge is power.

At our IEEE/PES solar energy panel there was one expert who stated that three things are required to expand renewable energy: resource potential awareness, cost competitive technology and massive investment. The UN and China (the world's fastest growing energy region) are now realizing the enormous potential for renewable development, and the costs of several renewable technologies are becoming competitive with fossil and nuclear energy. What's needed now is massive investment in this sector. More on this next time.