With clean energy, it's save now, pay later: IEA

The global economic crisis might cause carbon dioxide emissions to drop — for now — but the longer-term impact could be higher emissions, Reuters reports.

The article quotes Fatih Birol, chief economist of the International Energy Agency, who warns that slumping investment in alternative energy technologies could mean worsening greenhouse gas emissions when the economy begins to improve.

Birol is currently preparing a study of the economy’s effect on energy in advance of the G8 Summit to take place in Rome this May. He said the impacts he sees have been “stronger than anyone expected.”

Besides creating the potential for higher carbon emissions in coming years, the decline in green-energy spending could also lead to high oil prices and a supply crunch when the economy recovers, Birol said.