Renewable energy is declining among the priorities of countries

ArabiaWeather.com- A report issued by "Crescent Petroleum" confirmed the decline of the renewable energy sector among the development priorities of many countries of the world during the past short period, as a result of the pressures faced by the global energy markets.

The report attributed the decline in the ranking of the renewable energy sector among the priorities of these countries to the obstacles and difficulties that prevent more investments in the renewable energy sector, and the availability of cheap energy sources that support this trend.

The renewable and conventional energy sectors, according to the report, need innovation and development. To maintain the targeted limits of global competition, in addition to the importance of eliminating fluctuations in income and increasing national output.

And he indicated that the continuous decline in crude oil prices will negatively affect the profitability of renewable energy sources and their investments, as crude oil prices have declined by 70% per barrel since mid-2014, as the price per barrel fell from $120 to less than $33, due to the increase in supply. And limited demand, which prompted many producing countries to implement austerity policies.

The report indicated that it is necessary for energy-producing and consuming countries to introduce more innovations in the fields of green energy systems and to reach environmentally friendly solutions, especially in the transport sector, starting from electric cars and ending with fuel-saving aircraft.

Germany occupies the first place in Europe among the countries that produce the most high-technology related to finding solutions for environmentally friendly energy sources.