Renewable Energy Will Dominate World’s Energy Supply System: Report

A new report, Investing in Renewable Technologies, published by the international market research firm Research and Markets, concludes that eventually renewable energies will dominate the world’s energy supply system. The report states that wind, solar, geothermal, hydro, and biomassare essential parts of an overall strategy of sustainable developmentand they help reduce dependence of energy imports, thereby ensuring asustainable energy supply.

Furthermore, renewable energy sources can help improve thecompetitiveness of industries over the long run and have a positiveimpact on regional development and employment. Renewable energytechnologies are suitable for off-grid services, serving those inremote areas of the world without requiring expensive and complicatedgrid infrastructure, the report adds.

“There is no real alternative. Mankind cannot indefinitely continueto base its life on the consumption of finite energy resources,” Investing in Renewable Technologies continues.

“Today, the world’s energy supply is largely based on fossil fuelsand nuclear power. These sources of energy will not last forever andhave proven to be contributors to our environmental problems. Theenvironmental impacts of energy use are not new but they areincreasingly well known; they range from deforestation to local andglobal pollution.

In less than three centuries since the industrial revolution,mankind has already burned roughly half of the fossil fuels thataccumulated under the earth’s surface over hundreds of millions ofyears. Nuclear power is also based on a limited resource (uranium) andthe use of nuclear power creates such incalculable risks that nuclearpower plants cannot be insured.”

The report also comments on promises made by U.S. President Barack Obama, who said he will spend $150 billion over the next 10 years developing alternative energy:

Promises like these leave a legacy for futuregenerations to imitate. Clean technology and green energy stocks haveregistered a new high as analysts anticipate a major boost from thepresident. The U.S. election result has provided a much-neededencouragement at a critical time and that too for an industry which isstill in its nascent phase. This sector is threatened by the bankingcrisis and emerging economic recession. Reduction of carbon level, acushion against fluctuating oil prices and creation of more jobs ineconomic slowdown would be the natural offshoots of this policy.President Obama said the country that figures out how to make cheaperenergy that’s also clean, that country is going to win the economiccompetition of the future.

The roughly $800 billion stimulus package torevive the American economy includes billions of dollars in tax breaksand other financial incentives to boost the use of renewableenergy. Offering an in-depth analysis of all the renewable energiesavailable today, from biofuels to geothermal, the report explores thebenefits of each energy source–the growth drivers, challenges andbarriers, and the economics of each renewable technology. A completeanalysis of all the renewable energies in use today, along with asection devoted to country analysis is also provided in the report.

Withover 30 years of experience writing for newspapers, magazines andjournals, Robert’s articles have appeared in the New York Times,Encarta Encyclopedia, North American Windpower and Distributed Energyto name just a few.

Original Article on EnergyBoom


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