Precise definitions and guidelines are essential for investors, regulators, governments and consumers in assessing the value of resources in a transparent manner, and in determining the outlook for the world’s energy supply.
UNFC will help companies and governments to quantify the renewable energy resources of their projects and assets, and assess the technical, commercial maturities and uncertainties of these estimates. It will also facilitate comparison of renewable and non-renewable energy resources. UNFC will assist to compare and optimize investments required for transition away from fossil fuels.
UNFC specifications are currently available for renewable energy in general and specifically for geothermal energy. Specifications for bioenergy are under finalization. Specifications are under development for solar, wind and hydropower.
Several case studies are produced or are in preparation to aid consistent application to all sectors. Detailed guidelines for each renewable energy sector will also be available.
Renewable Energy Classification Working Group
Renewable Energy Specifications
Benefits and Challenges for Governments applying UNFC to Renewable Energy
A joint study was undertaken by the Group of Experts on Renewable Energy (GERE) and EGRM to explore the potential benefits and challenges for governments applying UNFC to renewable energy projects and resources. The Joint Study examines the benefits of resource classification including the classification of renewable energy projects, related opportunities and risks, highlighting how UNFC can be used to succinctly summarise the environmental, social and economic aspects of projects. The results of the joint study are summarized in the concept note, which was presented to the 8th Session of GERE: