Report: Brazil falling short on renewables investment

Brazil's renewable energy production puts the rest of the world to shame: 46 percent, versus the average 13 percent across the globe.

That's in large part due to ethanol. Brazil produces about 22 million U.S. gallons of ethanol per day, according to the U.S. government's Energy Information Administration.

But new thermoelectric plants scheduled to go online are expected to increase the country's dependence of fossil fuels from 10 percent to 17 percent of the energy supply.

The investment in coal- and oil-based power puts Brazil at risk of falling behind the rest of the globe technologically by not investing in alternative energy, the BBC reports.

Brazil's main source of renewable energy is hydropower, which makes up about 36 percent of energy consumption and 84 percent of the country's electricity.

Aside from hydropower, other renewable sectors have unrealized potential. Brazil has the resources to produce 143 gigawatts of wind power, a potential $100 billion opportunity, but just 341 megawatts of installed wind capacity at the end of 2008 (see Brazil: More than just ethanol?).

The government's policies on solar, wind and biomass offer little incentives for the growth of those sectors, the BBC says.

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