  We re-examine the classic problem of the renormalization of zero-point
quantum fluctuations in a Friedmann-Robertson-Walker background. We discuss a
number of issues that arise when regularizing the theory with a momentum-space
cutoff, and show explicitly how introducing non-covariant counter-terms allows
to obtain covariant results for the renormalized vacuum energy-momentum tensor.
We clarify some confusion in the literature concerning the equation of state of
vacuum fluctuations. Further, we point out that the general structure of the
effective action becomes richer if the theory contains a scalar field phi with
mass m smaller than the Hubble parameter H(t). Such an ultra-light particle
cannot be integrated out completely to get the effective action. Apart from the
volume term and the Einstein-Hilbert term, that are reabsorbed into
renormalizations of the cosmological constant and Newton's constant, the
effective action in general also has a term proportional to F(phi)R, for some
function F(phi). As a result, vacuum fluctuations of ultra-light scalar fields
naturally lead to models where the dark energy density has the form
rho_{DE}(t)=rho_X(t)+rho_Z(t), where rho_X is the component that accelerates
the Hubble expansion at late times and rho_Z(t) is an extra contribution
proportional to H^2(t). We perform a detailed comparison of such models with
CMB, SNIa and BAO data.
