Given the global need for energy efficiency due to increased demand and also an improved carbon reduction level there is as ever a great impetus placed on the nations around the world to invest in their energy infrastructure as opposed to continually importing energy as this only favors the large stakeholders such as Russia and the Middle East.
How The UN Play A Vital Role In Global Funding
There is as stated huge demand for renewable power globally but it is how the this funding is distributed that has caused vast amounts of conjecture amongst members of the UN who have claimed it is the under developed countries that should be at the front of the line as opposed to the more developed countries profiting from the Green Climate Fund first.
What Is The Amount Of Funding Offered
The sums of money involved are staggering with spending involved in the last ten years close to $8 Billion as such there have been claims that not all have received their fair share. What is also interesting is how such finding has led to many countries being able to dramatically increase renewable energy generations through to a wide ranging amount of scheme that the funding has fully or partly funded solar panels, wind power and more renewable schemes.
Is The Funding Going To The Countries Most In Need
This argument has fallen into two camps with the first being most in financial need of the Green Climate Fund but then there is the second case of the largest polluters. This is the fine line than distributors of the fund have to decide on especially given that recently released figures showed certain nations received over $450 Million dollars individually while others received practically nothing and given the fund overs over 130 nations it’s obvious there are clearer protocols and guidelines needed for distribution.
Poor Nations Still To Feel The Benefit
Also the classification of a poor nation must also need rectifying given that a number of under developed nations in Africa received only 10% of that of nations like Brazil who are now classed as one of the most quickly developing nations in the world. Thus any such solar power or geo thermal scheme up for funding within this country needs to be scrutinized further
What Does The Future Hold For The UN Funding Scheme
Given that the vast majority of countries have already signed up to sustaining or increasing funding in the coming years with the U.S. being one of the main contributors and as such the scheme is set to run for over the next decade as a minimum. The worrying factor for the developed nations involved in the funding scheme is that predicted costs of funding the under developed nations is only expected to increase substantial in the coming years.
How Solar Will Increase In Uptake Under The Scheme
As a vast majority of the under developed nations who fall under the criteria for the scheme are in prime locations for large scale solar investment it would be logical to assume that large scale commercial solar PV companies could look towards these nations to encourage the part or fully funding PV installations. It is such practices that have already seen large scale commercial projects appear in Ghana and Nigeria and as such it’s feasible with the continued funding and potential increasing of funding to such nations that such like projects will grow in number in the coming years.
Some previous related articles of interest:
How solar efficiency is continuing to improve
The lack of solar panel funding knowledge by UK residents
How significant solar material could be to the renewable industry