3 60 China , theEUandLatinAmerica:CurrentIssuesandFutureCooperation consensusonhow muchintermittentelectricitycanbesustainedbythegrid. Maximumpenetrationofintermittentrenewableenergytechnologywillprobably bedeterminedbyeconomicefficiencyandcostconsiderationsratherthanby technicalfeasibility. Thereareseveraloptionswithregardtodealing withintermittencein electricitysystems , whichincludeinvestmentinmorereliableinfrastructureand better grid interconnection , and balancing a mix of renewable energy technologieswithdifferentnaturalcycles.Ingeneral , itcanbearguedthat renewableswithhighershorttermvariabilityaremoreriskyforsupplysecurity , unlesscombined withrenewables withdifferentnaturalcyclesorappropriate backupcapacity.Theneedforbackupcapacityforintermittentrenewablescan bereducediftheyareusedincombinationwithamixofotherrenewableenergy technologiesthatarelessintermittent.Forexample , wind powercan be complementedbylargehydroinstallations , orpossiblyeven withhydrogen powered plants. However , largescaleintegration ofrenewablesinto the electricitygridwillalsorequireinvestmentinbackupcapacitiesandelectricity storagetocompensatetheremaininguncertaintiesofthegrid. Similarly , appropriatedemandside managementstrategies willhelpto regulatedemand , forexample , bysettingpriceincentivesandincreasingprice transparencytoreducetheuseofelectricityduringpeakhours. Inanefforttoovercomesomeoftherisksassociatedwithrenewableenergy sourcesandtoimproveinternationalcooperationtofacilitatethetransition towardsthe widespreaduseofrenewablesinthe world , theInternational RenewableEnergyAgency ( IRENA ) wasestablishedon26January2009.While itistooearlytoassesstheeffectivenessoftheorganisation , itseemsthatit couldpotentiallymakeasubstantialcontributiontodecarbonisetheglobalenergy sectorbyimprovingtheknowledgebase , providingpolicyadvice , promoting technologytransferandstimulatingresearch.IncontrasttotheIEA , IRENA Signatory Statesinclude bothindustrialised and developing economiesfrom Africa , Asia , EuropeandLatin America.However , thetwolargestglobal greenhousegasemitters — ChinaandtheUSA — havenot ( yet ) joinedIRENA. Tohaveatrulyglobalreach , theAgencywillneedtheseandothercountriesto participate ( forexample , Australia , Brazil , Mexico , Russia , SouthAfricaand theUnitedKingdom , aswellassomeofthemainoilproducingcountries ) .Only withbroad membership willIRENA beabletopursueaglobalstrategy , providingafocalpointforallglobalrenewableenergyissues.Ontheotherhand , someindustrialisedcountries may benefitfrom increased globalefforts with regardtorenewables , hopingto “ reapcommercialgainsfromtheirtechnological
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China, the EU and Latin America : current issues and future cooperation
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