Renewable Energy Sector - Coursework Example

Renewable Energy RENEWABLE ENERGY Renewable energy can be defined as energy generated from various natural resources like sunlight, water, and wind, which can all be replenished via natural means. Roughly sixteen percent of all the energy that is consumed in developed nations is generated from these renewable natural sources. Three percent comes from such renewable sources as bio fuels, wind, and small hydropower projects. With most renewable sources viewed as large scale, they are also suitable for remote areas away from the cities in places where development is linked directly to availability of energy. Over the last five decades or so; there have been concerns raised over the drastic changes and effects inherent from climate change. These are tied to the sky rocketing of fossil fuels, attainment of peak oil production, and most importantly, the increased support from the governments in developed nations through increased legislation of the commercialization of renewable energy sources and added incentives for those companies and organizations that utilize renewable energy. This sector of renewable energy has managed to weather the global financial crisis better than most other energy sectors. This has resulted from increased government spending on these projects, increased regulation of the industry and improved policies. The International Energy Agency has projected that, in the coming fifty years will see solar energy aid in the catering of the majority of energy needs for major developed countries. The renewable energy sector is the future’s major growth energy, especially given the amount of investment made, in it, to reduce reliance on fossil fuels and also move from the controversial nuclear energy projects. This paper aims to assess the progress of developed countries in utilizing solar, wind, and hydro energy in order to reduce their reliance on fossil fuels. 1. Wind Energy The advancement of wind energy over the past few decades has seen the objectives of wind turbines evolve from conventional driving to optimal driving (Boyle, 2004 p23). This means that developed nations have been attempting to make energy conversion from the turbines efficient. This development has led to decreased costs of energy production from wind power. The technology inherent in the wind turbines is striking for the conversion of energy from the wind via blade rotation into electric energy currents sans the use of any other source of energy. the energy produced by these turbines is also compatible with large scale consumers like the national grid, as well as the small scale consumer. These small-scale consumers have been encouraged to generate energy this way via the support of investors and various energy stakeholders in developed countries. It is the cost effectiveness potential of this source that has led to many governments in developed countries encouraging its use (Boyle, 2004 p24). The development of wind power has also been driven by the renewable nature of its energy, its statues of being clean, and its widespread distribution. Added to this is its marginal cost, which is relatively low when compared to fossil fuels, as well as its increased proportion of up-front value and cost. Another factor supporting its rise is its almost non-existent maintenance and fuel costs. This is despite the fact that they have a huge capital outlay. The combination of these factors has sold wind energy as source f energy that is sustainable to numerous developed nations across the world (Craddock, 2008 p35). Over the last few years, most developed nations have increased their interest in wind-powered energy (Division, 2009 p58). This is because of its sustainability, cost effectiveness, and clean status, compared to fossil fuels. The huge cost reductions in wind energy has seen most developed nations develop a keen interest in the power source, especially given the increase in prices of fossil fuels, not to mention the harmful effects of the fossil fuels. This upsurge in interest has resulted from developed countries tying it to favourable forecasting and scales of growth. However, its biggest downfall has to do with the forecasts that it is not possible in densely populated areas due to the production of incessant noises and problems with visibility that they caused (Johansson, 2006 p13). 2. Hydropower The role played by hydropower in the advancement of energy that is renewable in nature, in developed nations, is significant, with most developed nations utilizing it for energy generation to some extent (Saunders & Stevens, 2006 p50). Hydropower is friendly to the environment with production of greenhouse gas emissions that are negligible. Hydropower is also striking for its cost effective nature, converting approximately ninety five percent of energy present in moving water into electric energy. When compared to fossil fuels, whose energy efficiency comes at a distant sixty percent, the potential in hydroelectric power is too enormous to be ignored by developed nations. Hydropower was utilized first by generations in ancient times for the movement of wheels in order to ease work (Sayigh, 2009 p109). The energy source has evolved, over time, and finally, it is being utilized for electric energy production. Governments in developed countries have been drawn to this energy source for its renewable nature, as compared to fossil fuels like coal and oil. Hydropower only uses the energy in the water in motion in the production of electric power and does not decimate the supply of water (Sorensen, 2011 p56). Since these water sources are the lifeline of the people living along them, and downstream, it is especially important for governments looking to develop sustainable energy production. Thus, unlike fossil fuels, hydropower does not decimate any resources. The development of hydropower was driven, by the aim of most governments in the developed world, to acquire a source of energy that does not decimate natural resources over time. Fossil fuels are utilized in huge quantities that cannot be sustained over time if the consumption keeps up its rate. This is especially of importance as energy requirements in a developed nation’s rise, with competition from developing nations for the same resources. Since developing countries like Brazil and China are consuming energy at a much higher rate than the developed nations, it is imperative that developed countries look, for alternative, renewable sources, to sustain growth. Hydropower has been identified as a source with great potential. Another contributing factor to the development of hydropower is its clean nature, compare to fossil fuels that emit greenhouse gases (United States, 2008 p567). Hydropower has shown great promise in cutting of green house gases emission. The development of hydropower has been phenomenal in developed countries over the last two decades, approximately meeting a fifth of their requirements for energy (Voravate et al, 2009 p46). While the projects began in rural areas, where it was estimated that rural populations in these areas would grow exponentially, the highest demand for this source is from urban areas and export to developing countries on their borders. Most governments have been very responsive to hydropower and its potential since, unlike fossil fuels; it is not liable to fluctuations in price. The renewable nature and water management ability of hydropower has seen most governments in developed countries turn to its utilization. 3. Solar Power Systems of solar energy have limited environmental impact, which makes solar energy one of the cleanest technologies for energy production available in the market today. In the process of converting the energy form the sun into hot fluids or electric energy, there is limited air pollution, noise or hazardous waste. Increased conversion of solar energy into heat and electricity decreases the dependence and reliance of developed countries on imported energy sources that include fossil fuels. Solar energy can also be a driver of effective, economic development. In the United States, the photovoltaic market increased to two hundred MW, a fifty-seven percent increase, in 2007. The cumulative PV power installed in the United States in 2006 was 624 MW. The forecast from the Energy Information administration shows solar energy’s long-term growth reaching three thousand MW by the year 2030. This did not include installations that were off-grid (Wengenmayr & Thomas, 2011 p177). This will go a long way in reducing reliance on fossil fuel source, which are not effective. Most developed countries have come around to the realization that solar energy provides air that is cleaner, unlike fossil fuels. It also aids in economic development, high tech employment, reduces the impact of polluting power generating plants, increased stability of energy price, increased reliability of power, energy independence, and fuel diversity (Wengenmayr & Thomas, 2011 p177). It also plays a role in the decrease of green house gas emissions via its replacement of energy powered by coal, with renewable and clean technologies of solar PV. Reductions in green house gas emissions in turn improves the quality of the air and decreases the impacts of green house gases that cause climate change. The IEA, in 2011, concluded that development of clean, inexhaustible, and affordable technologies for solar energy would benefit most countries in the long term (Wengenmayr & Thomas, 2011 p177). This has pushed developed countries to develop solar energy in order to combat the harmful effects of fossil fuels on the environment and thus on their economies. Solar power is forecasted to increase the energy security of developed countries via reliance on import independent, inexhaustible, and indigenous resources to reduce pollution, enhance sustainability, keep the prices of fossil fuels down, and mitigate climate change. Since the oil embargo, of 1973 and the energy crisis of 1979, developed nations globally reorganized energy policies and moved their attention to solar power technologies (Wengenmayr & Thomas, 2011 p178). Programs for development focused on giving incentives such as the US Federal PV Utilization program and the Japanese Sunshine Program. European Union forecasts, in the latter part of the 1990s, showed hydropower energy would dominate renewable sources of energy. They also made forecasts showing that wind energy would grow exponentially to become a major energy resource, as would solar power. This will especially be driven by the need to embrace other forms of fuel other than fossil fuels that highly pollute the environment and are unreliable due to the volatile nature of the oil and gas industry, as well as coal. Solar, wind, and hydropower are known to have almost non-existent green house gas emissions. The trend that began in developed nations at the turn of the last century to acquire and exploit, clean and sustainable energy sources was in part inspired, by the need, to make the renewable energy sector self efficient and sustaining. References Boyle G. (2008). Renewable energy : [power for a sustainable future]. Oxford : Oxford University Press. Craddock D. (2008). Renewable energy made easy : free energy from solar, wind hydropower, and other alternative energy sources. Ocala, Fla.:Atlantic Pub. Group. Division Institution of Electrical Engineers. Power, and Education, and Technology Division Institution of Electrical Engineers. Science. 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Washington, DC : World bank. Wengenmayr R, and Thomas B. (2011). Renewable Energy : Sustainable Energy Concepts for the Future. Hoboken : John Wiley & Sons. Read More