What Innovations in Environment and Energy Practices Could Contribute to the Business of Healing our World - Assignment Example

Running Head: HEALING OUR WORLD What innovations in environment and energy practices could contribute to “The Business of Healing our World”? SCHOOL What innovations in environment and energy practices could contribute to “The Business of Healing our World”? More Green Jobs for Green Economy An innovative vision of a “green economy” includes efficient energy use, sustainable economic growth, environmental abuse prevention, energy conservation, reduction of harmful emissions, and the use of alternative energy sources. In greening the economy, the U.S. government invests in the development of clean technology and renewable energy industries that will generate more “green jobs” and lift its people from economic crises (Pollin & Wicks-Lim, 2008). The Green Recovery scheme is a $100 billion economic plan for the country’s transition to a low-carbon economy through infrastructure funding on energy efficiency plans and renewable energy use. Infrastructure investments, together with the revitalization towards a green nation are forecasted to create 2 million new jobs all over the country in 2010; triple the number of good-paying jobs; decrease unemployment rate; and boost construction and manufacturing employments (Podesta, 2008). However, the program has its drawbacks. According to a research by the McKinsey Global Institute, clean-technology industries do not require a large workforce. The green industries are actually too few to generate millions of jobs needed today. McKinsey says that what the country needs more is a government that is not centered exclusively on the creation of carbon-free industries, but likewise on the development of revolutionary clean-energy equipments and services and the implementation of the simple fundamentals, such as campaigns on improving business and residential insulation and substituting the out-dated temperature equipment with the most modern products that are now available in the market (Foroohar, 2010). Provided that the world’s biggest companies would set higher environmental standards, climatic solutions would be feasible. However, greening the environment is frequently represented as a mere political decoy that would weaken rivalry and survival in the world economy. Going green is a political statement. Somehow, over the years, environmentalism, which should have been the major concern of every political stripe, got swept up in the tornado of politics and precariously set down on one side of the political aisle. The prospect of economic growth and employment increase may perhaps rely on it (Foroohar, 2010). Anti-Global Warming Legislation to Re-engineer the World Energy System U.S. Congress proposes a legislative on fighting global warming. This proposal raises environmentalists’ optimisms of a clean energy nation, with the assumption that global warming can simply be defeated at practically no cost. The Environmental Defense Fund (EDF) asserts that, "For about a dime a day (per person), we can solve climate change, invest in a clean energy future, and save billions in imported oil." (Samuelson, 2009). The world derives approximately 80% of its energy from fossil fuels such as petroleum, coal and natural gas. Burning of the non-renewable fossil fuels releases greenhouse gases in the form of carbon dioxide. The main objective of the proposed legislative is the deletion or reduction of fossil fuel consumption and suppression of the carbon dioxide it emits. If successfully implemented, a dramatic decrease of around 40% in greenhouse emissions is forecasted 2 decades from now based from 2005 emission levels and around 80% reduction by the year 2050 (Samuelson, 2009). Restructuring the world’s energy system comprises changing the nation’s method of energy production and energy use and significantly decreasing its oil dependence (Podesta, 2008). However, this approach is seemingly not feasible. According to the Energy Information Administration (EIA), twenty years from now, America’s demand for further energy will rise with the increase in population, transportation and economy. Nevertheless, EIA forecasts a bigger increase in energy conservation and alternative energy use as well. By then, the use of solar energy may have risen 18 times and 6 times in wind energy; the use of hybrid cars may be dominant; and better energy-efficient electrical appliances may have been produced. Likewise, carbon dioxide releases are assumed to elevate by 4% which is equivalent to around 6 billion metric tons of CO2 emissions (Samuelson, 2009). “Carbon capture and sequestration” may be a potential solution; however its effectiveness, economic practicality, and safety are uncertain. Its ability to meet global energy demand while mitigating climate change seems unattainable. Strategies to re-engineer the world energy system remain futile. Environmentalists, in the hope of restructuring the energy system, unintentionally exploit the perils of global warming. Every strategy is assumed from representations of unsure dependability (Samuelson, 2009). Transition to a Low-Carbon Economy through Infrastructure Investments in Renewable Energy Systems The energy system is complicatedly connected with climate change. Combustion of fossil fuels for energy and power production remarkably affects climatic conditions of the earth. Renewable energy sources such as wind and solar energies are potential alternatives for a carbon-free economy. Infrastructure investments in the development of renewable energy innovations have intensified enormously throughout the world. Impacts on the environment prompted the government to design a long-term, national scheme for infrastructure investment (“Characterization of Irreducible Uncertainty in the Future Energy System,” 2009). Wind and solar energies are the top increasing, most accepted renewable energy resources in the world. Solar photovoltaic cells and wind turbines are attractive since these are "renewables” and carbon-free. However, both give energy intermittently and do not provide power at a constant rate. These alternative sources of energy may fail to supply electricity for surge demand. Because solar cells are mainly dependent on the sun, no electricity is generated at night. The amount of available wind energy continuously varies depending on wind speeds and turbine characteristics. Provided that extensive storage for electric energy is doable for wind and solar capacities, electricity supply will be constant. On the other hand, energy storage for wind power can only be situated in places with hydroelectric dams which may cause a decrease in electric power production (Schlesinger & Hirsch, 2009). America’s wind market declined 30% during the economic recession. The wind power-generating industry provides only 1% of the nation’s power supply and financially reliant on the financial support of banks. Emerging from the 2008 economic collapse, the United States government lacks sufficient funds to support the wind industry. Through the new U.S. incentive scheme of greening the nation, wind and solar developers are optimistic. Still, renewable energy advancement is hampered due to the immobilized financial status of the U.S. (Stransky, 2009). Even before the economic recession, the U.S. government financed solar power industries. At first, the industry was flourishing in spite of the recession; however it needs bigger funding to be able to contend with the more efficient energy sources such as petroleum and coal. With the nation’s optimism for a clean-energy environment and the continuous increase in petroleum prices, there is a greater necessity for a more affordable and carbon-free energy source. Based on the 2009 Utility Solar Assessment Study, solar power is projected to become more cost-friendly than the other conventional energy sources by 2015. However, due to solar crisis and an overload of solar power, half of the solar suppliers may not survive, according to the Information Network research. The economic collapse greatly affected the solar business and solar power demand (Stransky, 2009). References Characterization of Irreducible Uncertainty in the Future Energy. (2009). Climate Decision Making Center. Retrieved 26 March 2010 from http://www.cdmc.epp.cmu.edu/template.php?c=energy Foroohar, R. (2010). Green Technology Won’t Create Jobs. Newsweek. Retrieved 26 March 2010 from http://www.newsweek.com/id/235216 Podesta, J. (2008). Green Recovery. Center for American Progress. Retrieved 26 March 2010 from http://www.americanprogress.org/issues/2008/09/green_recovery.html Pollin, R. & Wicks-Lim, J. (2008). Job Opportunities for the Green Economy: A State-by-State Picture of Occupations that Gain from Green Investments. Center for American Progress. Retrieved 27 March 2010 from http://www.americanprogress.org/issues/2008/06/green_jobs.html Samuelson, R. J. (2009). Selling the Green Economy. Real Clear Politics. Retrieved 26 March 2010 from http://www.realclearpolitics.com/articles/2009/04/27/selling_the_green_economy_96188.html Schlesinger, J. & Hirsch, R. (2009). Getting Real on Wind and Solar. Washington Post. Retrieved 26 March 2010 from http://www.washingtonpost.com/wp- dyn/content/article/2009/04/23/AR2009042303809.html?sid=ST2009050503250 Stransky, M. J. (2009). The Economics of Global Warming. Free Online Library. Retrieved 26 March 2010 from http://www.thefreelibrary.com/The+economics+of+global+warming.-a0214458853 - Read More