Energizing climate-friendly development

Energizing climate-friendly development In developing countries, the progress of large populations is held up because of a lack of access to the energy required for long-term economic and social development. This past year has seen dramatic volatility in oil prices. Volatile energy prices are impacting energy security, balance of payments, inflation, and economic growth. This report summarizes the progress that has been made in renewable energy and energy efficiency projects at the WBG during fiscal 2008 (July 2007-June 2008), and presents case studies and analyses from several noteworthy projects. In fiscal 2008, out of 95 renewable energy and energy efficiency projects, 34 provided improved energy efficiency on the demand side to households and industry, thereby reducing energy costs. Moreover, by reducing electricity loads, these projects play an important role in mitigating acute power crises and reducing the need for investments in additional electricity generation capacity. 28 projects employed renewable energy solutions to improve access to rural communities, thereby allowing people to benefit from improved living standards and productivity through modern lighting, irrigation, and other productive uses of modern energy. 19 projects employed renewable energy technologies to generate power for electricity grids, while the remaining 14 improved energy efficiency on the supply side, for example, through power plant rehabilitation and reductions in transmission and distribution losses.