Renewable energy to lower costs, boost economy — German official

[jpak]

http://www.gmanews.tv/story/222454/business/renewable-energy-to-lower-costs-boost-economy-german-official

Investments in the production of renewable energy may not only drive down skyrocketing electricity costs but may boost the economy as well, according to a visiting German parliament member.

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Fell said investments in conventional energy sources are twice as expensive compared with those in renewable energy sources.

"Investment in renewable energy is about 100 trillion dollars, but the fuel cost which we could avoid in 20 years would amount to about 200 trillion dollars," he said.

"You see, it is cheaper to go into renewable , if only to avoid the fuel costs. But then we also avoid external costs, such as climate change," he added.

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