Photovolotaic solar panels and wind turbines could contribute to ambitious targets to free the planet from fossil fuel dependency by 2090, according to a new report. The study by the European Renewable Energy Council and Greenpeace concluded that along with global feed-in tariffs, or premium rates for small generators, a hefty investment was required.

It claimed that $14.7 trillion would have to be invested in clean technologies by 2030 to meet the target, which would also lead to savings of £18 trillion on fossil fuel costs. Such commitment to combating climate change would create a £360 billion industry, claims the report.

It also denies that nuclear power is necessary, noting that there are renewable ways of generating a base load to back up variable renewable sources. "Hydro-power, concentrated solar power with energy storage, biomass and geothermal are all base load technologies, while tidal power is predictable," Sven Teske, report co-author, told Business Green. "The only variable energy sources are photovoltaic solar and wind."

Ed Miliband, secretary of state for energy and climate change has already declared that he will introduce feed-in tariffs, a measure the report calls for. These will allow for people who fit their homes or properties with photovoltaics, wind turbines or other microgeneration techniques, to be paid above market rates for the electricity they generate.

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