Abu Dhabi: Decreasing costs of renewable energy sources may convince the world governments to minimise subsidies on polluting fossil fuels, a senior official of International Renewable Energy Agency (Irena) said here on Sunday.
World governments were ignoring the fact that although renewable energy sources require big initial investments, their long-term operational and maintenance costs are minimal, he [Frank Wouters, Deputy Director General of Irena] pointed out.
Effective policies are more important than subsidies for countries to scale up renewable energy on a large scale, experts participating in the assembly also pointed out.
Anywhere in the world, investment in renewable power generation depends on stable regulatory frameworks, transparent planning processes and clear procedures for connection to the grid, said the participants at a workshop as part of the assembly.
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