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Market Risk Analysis on Solar Thermal vs. Solar Photovoltaic System in UK - Research Paper Example

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This report, Market Risk Analysis on Solar Thermal vs. Solar Photovoltaic System in the UK, will identify and examine the advantages and disadvantages of investing in solar PV and solar thermal system. Several case scenarios will be presented as part of conducting a management risk analysis…
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Market Risk Analysis on Solar Thermal vs. Solar Photovoltaic System in UK
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Download file to see previous pages It is a universal knowledge that the burning of oil and natural gas could produce and emit excessive carbon monoxide and carbon dioxide that could trigger global warming. To combat the global climate changes, the UK government decided to gradually shift from the use of non-renewable to renewable energy resources. Recently, the Committee on Climate Change announced that the Scottish Government will reduce the carbon gas emission by 3.5% annually between 2020 to 2050. As a result of increasing the use of non-renewable energy resources, the annual emission of carbon dioxide throughout the United Kingdom decreased from 8.95 metric tons per capita in 1995 down to 8.6 metric tons per capita in 2007.
To enable the reader to gain a better understanding of solar PV and solar thermal system, a brief literature review will be conducted concerning the nature and advantages of these two alternative energy resources. Given that existing UK renewable energy industry is focused on the use of biofuels, wind power, and hydroelectricity, this report will conduct a risk management analysis whether or not the UK government should extend its financial and political support in the promotion of either solar photovoltaic or solar thermal as one of the potential renewable energy resources throughout the United Kingdom. This study is focused on determining whether or not it would be feasible and cost-effective on the part of the UK government to extend its support over the use of either solar photovoltaic or solar thermal system, this report is limited in terms of discussing other forms of renewable energy resources other than solar photovoltaic and solar thermal system. ...Download file to see next pagesRead More
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