Eventually renewable energies will dominate the world's energy supply system. There is no real
alternative. Mankind cannot indefinitely continue to base its life on the consumption of finite
energy resources.
Today, the world's energy supply is largely based on fossil fuels and nuclear power. These
sources of energy will not last forever and have proven to be contributors to our environmental
problems. The environmental impacts of energy use are not new but they are increasingly well
known; they range from deforestation to local and global pollution. In less than three centuries
since the industrial revolution, mankind has already burned roughly half of the fossil fuels that accumulated under the earth's surface over hundreds of millions of years. Nuclear power is also based on a limited resource (uranium) and the use of nuclear power creates such incalculable
risks that nuclear power plants cannot be insured.
Renewable sources of energy are an essential part of an overall strategy of sustainable
development. They help reduce dependence of energy imports, thereby ensuring a sustainable
supply. Furthermore renewable energy sources can help improve the competitiveness of industries over the long run and have a positive impact on regional development and employment. Renewable energy technologies are suitable for off-grid services, serving those in remote areas of the world without requiring expensive and complicated grid infrastructure.
President Barack Obama has promised to spend $150 billion over the next 10 years developing
alternative energy. Promises like these leave a legacy for future generations to imitate. Clean
technology and green energy stocks have registered a new high as analysts anticipate a major boost from the president. The US election result has provided a much-needed encouragement at a critical time and that too for an industry which is still in its nascent phase. And this sector is threatened by the banking crisis and emerging economic recession. Reduction of carbon level, a cushion against fluctuating oil prices and creation of more jobs in economic slowdown would be the natural offshoots of this policy. "The country that figures out how to make cheaper energy that's also clean, that country is going to win the economic competition of the future," he said.
The roughly $800 billion stimulus package pending in Congress to revive the American economy includes billions of dollars in tax breaks and other financial incentives to boost the use of renewable energy.
This report on Investing in Renewable Technologies expands further and offers an in-depth analysis of all the renewable energies available today, from biofuels to geothermal. The report explores the benefits of each energy source, the growth drivers, challenges and barriers, economics of that energy, and much more. A complete analysis of all the renewable energies in use today, along with a section devoted to country analysis is also provided in the report.
View Table of ContentsPages: 145
Publication Date: September 2009
Publisher: Energy Business Reports
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