Renewable Energy on the Rise

 23 Aug 2017 | Energy & Utility

USA

The reliance of human race on non-renewable energy sources has been constant since the start of civilization. Fuels derived from resources like Fossil Fuels, Coal, Petroleum, Natural gasses etc all fall under non-renewable sources. These sources are termed non-renewable simply because they canít be replenished. The extraction and use of these fuels are known to cause adverse effect on environment. The emissions after using coal and emissions while extracting natural gas are prime examples of the adverse effects on the environment.

The effects of these can be seen in the climate change in the form of global warming. Temperature has been rising globally resulting in melting of ice on North and South poles which in turn has resulted in increased sea levels. Many countries have realized this and have taken steps to shift to Renewable energy sources such as Wind Energy, Hydro-power, Solar energy etc. which donít have the adverse effects of non-renewable sources and can be replenished overtime.

The results of this switch are promising and can be seen as Solar and Wind power have stepped into double figures in the US this year. Renewable energy now makes for 10% of the total energy generated in the United States. The report by Energy Information Administration (EIA) show that in March 2017, Solar and Wind energy contributed 2% and 8% respectively to make it a total of 10%. It is also a projection of the rising trend to shift to renewable sources around the world.

According to recent projections from Bloomberg New Energy Finance (BNEF), Wind and Solar power will make up to 34% of the total energy generated around the globe. As the demand and production of renewable energy rises, the price is projected to reduce, making it more cost effective. It is estimated that by 2040, US, Japan and India will see solar costs dip by 67%, 85% and 45% respectively.

The new reality of renewable energy shows us why, once considered to be an alternate source of energy, can no longer be considered so. Renewable energy is only going to soar as we move towards preserving the environment while meeting our energy demands with a clean source.