Worldwide the non-renewable energy sources in use include coal, petrol, and gas. Currently, they contribute to ~75% of greenhouse gases and ~90% of CO2 emissions. Yet, we use them for commercial energy production. And ~80% of the world’s energy is produced from these non-renewable sources. For us to have a clean environment by 2030, we must reduce these emission levels. This is possible only by deploying more renewable sources for energy production. Unfortunately, now, only about ~30% of electricity is generated from renewable sources like sun, water, or air.
From a birds-eye view, here we’ve curated the five best reasons to state why renewable energy is popular.
Five Reasons Why Renewable Energy is Popular
- Renewable Energy is Abundant
Today, more than 90% of the countries import depleting fossil fuels for their energy production needs. Did you know? Renewable energy sources are available in abundance and all countries. The only job is to harness them effectively and apply them to generate energy/power.
- Renewable Energy Opens More Job Opportunities Than Fossil Fuels
In order to achieve zero emissions in the next two to three decades, we may have to almost replace the use of fossil fuels. And deploy renewable energy sources. In this case, you may worry that we may lose nearly ~5 million jobs in fossil fuel production. But the limelight is undiscovered yet! Yes, because harnessing renewable energy will open up more than ~10 million jobs. This is a booster to both employment and clean energy targets.
- Less Global Warming & More Eco-friendly Environment
Lately, WHO estimated ~13 million deaths occur globally due to avoidable environmental problems like air pollution. Replacing non-renewable fossil fuels with renewable energy sources can of course reduce emissions. And make the environment eco-friendly (less global warming). However, how sustainably the renewable energy sources are geared is what matters. Check how sustainable energy reshapes our future!
- Favorable Factors are on the Rise
Some important factors that drive renewable energy are market opportunities, policies, credits for capital/ investment & sustainability. In recent years, with the growing renewable energy technologies,
- the policies are popularising
- the government is happy to offer credits/subsidies for capital
- the market is always open to increasing clean energy production.
At large, all these factors show a favorable sign toward energy production from renewable energy sources.
- Energy Production Costs From Renewable Sources are Getting Cheaper
According to UN.org, the cost of renewable energy technologies has seen a rapid fall in recent years. In the last decade, between 2010 to 2020, the cost of energy production in solar panels fell by ~85% (Reasons why solar energy is getting traction?). And the cost of energy production in wind turbines fell in the range of ~45-55%. With the growing importance and investments, the cost of energy production from renewable energy sources will further decline.
If you’re a business in energy or power production, you cannot miss this opportunity to invest and reap from renewable energy. After all, you are contributing to making our planet a better place to live!
World Expectations
So far, we see renewable energy applied predominantly only to power/ electricity. We need every nation and its government to establish benchmarks for applying them in other sectors like heating, logistics, etc.
According to World Resources Institute, globally, more than 160 countries (>600 cities) have already set their targets to increase the application of renewable energy. Kudos to them!
