The Rise of Renewable Energy

I've been off the grid for most of the summer, owing to the fact that well, it's summer ! Time spent at the Lake with friends and family were a higher priority to me...

In the interim, lots has changed in our world. The USA came remarkably close to having to default on it's loans; a Global recession is gripping large parts of Europe and the Middle East; and of course, the nuclear accident at Fukushima. Interestingly, these represent the potential for huge benefits to Renewable Energy !

The financial crisis in the United States will cause a few things to happen. The Obama Administration will want to stimulate the economy, creating jobs and with them, buying-power. This will spur manufacturing and the processing of raw materials, and the cycle will begin again. But what kinds of jobs will be created ?



This leads to the second initiative, already underway - the lessening of US dependence on foreign energy. This drives the investment in Renewable Energy sources. By creating an industry around Solar, Wind, Hydro and Geothermal energy, the US Government effectively addresses both of the first two crises at once ! They create jobs in a new industry, whose aim is to develop & produce technologies which harvest renewable energy.


Finally, the horrifying accident at Fukushima has created an intense global fear of nuclear energy. While it is by far the most prolific means of producing energy, the risks associated with it are once again cause for greater scrutiny. Germany has declared it will phase out all nuclear power generation plants in the next decade, to be replaced with some form of Renewable Energy source.

To date, the largest barrier to mass-adoption of energy produced by renewable sources - like solar, wind, or hydro sources - has been cost. As we are seeing with hybrid vehicles, which run on gasoline and electricity, they are not LESS expensive to acquire or operate. Nay, one has to make a conscious decision that the benefits will outweigh the additional costs.



The current constraint for Renewable Energy is referred to as "grid parity". The conventional wisdom is that until the cost per mega-watt from renewable energy falls below that of traditional "dirty" sources (so-called "grid" sources), mass adoption will stagnate.

Fortunately, technology is advancing at a break-neck pace. The same economic stimulus the US Government is applying to spur it's economy is being invested in researching and developing technologies to gain higher efficiencies in harvesting Renewable Energy ! Further, "Feed in Tariff" programs already in place provide financial advantages for energy producers to develop energy from renewable sources. Renewable Energy isn't just good for the environment, but it is also a boon to Mankind, given our current economic state.




The opinions expressed in this post are purely those of the author. Opinions are like noses; everyone has one and they are entitled to it !