Exploring Alternative Avenues for Energy - Term Paper Example

LAW This paper deals with an important and thought –provoking aspect of modern business- control mechanism on energy through legislative weapons and industry compliances to stringent Government dictates, and how efficient energy conservation techniques could be affected. It is also concerned about the need to develop methods to avoid dependence on conventional energy sources through use of alternative, or innovative ones. Spiraling energy usage levels and resultant costs, not only impairs normal living but also effects the earth’s environment and healthy living for inhabitants. While industrialisation has its positive aspects of generating revenues, offering employment opportunities and raising standards of living of people; it also leads to depletion of scarce energy resources, seriously affects delicate environmental balances and leads to vital health issues - industrial wastes, pollution and lowered quality of air and water. The disastrous effects of these truths could carry forward into our future life which needs to be averted. (150 Words) Outline: Our present energy resources may not last long due to high rate of usage and unbridled consumption, especially by the industrial sectors. Therefore it has become necessary to seek new and alternative means for addressing this issue and providing means of its alleviation and mitigation, if not a long term solution that could effectively deal with this current issue. Thus, it has become necessary to take emergency measures to counter energy scarcities and pricing fluctuations through: Exploring alternative avenues for energy, both conventional and unconventional Reducing energy consumptions and costs Alleviating the causes of pollution and toxic waste Developing and sustaining the use of renewable and alternative energy facilities Setting up energy measuring mechanism and its usage and monitoring Developing several ways and means by which the dependence and funds spend on fossil fuels and contemporary energy sources could be reduced and innovative ideas leading to outsourcing of alternative energy sourcing could be developed and gainfully employed. Seeking a harmonious commensuration between demand side management and beneficial usage through adequate supply channels. Summary: Innovating and development may take time and resources. It is a long drawn process which requires sustained efforts and investments. It is also necessary to develop newer techniques through which existing energy resources could be optimized and effective control measures taken to limit its ineffective and inefficient use, through innovation. Introduction: The subject of seeking alternative and substitute means of generating energy resources needs to be seen in the context of depleting resources, due to mismanagement and slack control mechanism which does not address the core issues. Although much has been said about the need to tackle energy crisis on a war footing and seek renewable and alternative areas like harnessing wind, solar or nuclear energy for the advancement of human society, there are many areas in which improvements could be made for achieving such objectives. In the first place, there is legislation in place that is designed to control the use of energy. This is done by creating hybrid or alternative fuel usage in vehicles. It is planned that by year 2018, nearly 50% of vehicles would be run by hybrid or alternative fuel methods. (The Commonwealth of Massachusetts). The administrative system has been modified in order to facilitate the dual objectives of conserving the present resources and future demands on one hand, in conformity with the need for seeking innovative and novel methods of energy resourcing that could ease the pressure off the present outputs both in terms of costs and impacts, while creating new avenues for energy markets. The government agencies have required life cycle assessment to be carried out in industry to estimate the short term and long term implications of energy use. Industries are made to become more accountable for their energy requirements though audits, periodic reporting and participation in conferences relating to better energy management. The main aspect regarding energy would be in terms of cap on carbon dioxide emissions, which has a major impact on environment. Again, yearly audits of companies are carried out in terms of inspection of their Balance Sheets, Profit and Loss accounts, Cash flow statements and reconciliation statements. This would reflect governance and compliances with directives on energy usage and control mechanism. The Government has instituted a Special cell through which complaints could be made by public regarding companies violating energy directives and these violating companies need to present their case within specified times. It is seen that strategic management needs to be utilized while tackling issues emanating from energy uses. This is because the entire gamut of business has changed through globalization and maximum use of web enabled technology, this has resulted in “shorter product life cycles “and increased competition in the global marketplace. In today’s world if companies have to survive and grow, they need to compete in truly global terms and render maximum efficiencies to the State, its stakeholders, employees and the environment. “Technological innovation now the single most important driver of competitive success in many industries.” (Schiller). Topic: Innovativeness needs to be ensuring that hybrid and alternative energy solutions in line with IP laws could be implemented in the Commonwealth. With burgeoning oil prices and high costs of energy it has become central to seek alternative means of producing energy: The first could be in terms of solar energy use. This system works through a process of photo-voltaic cells (PV) which converts light energy into electrical energy. PV’s are made of silicone, a semi conductor. When solar light hits the cell, it generates electrons which move and create electric current which is channelised to create electricity for consumers. (How does Solar Power Work? Solar Panels Transform the Sun’s Energy into Electrical Energy that can Power Homes and Businesses). The second could be in terms of wind power generation: With the blowing of wind, low pressure on the lower side of the rotor causes is to rotate. The rotor is connected to a generator inside the nozzle of the turbine. Thus, electricity is created in the generator that travels along the cables, on to the transformer and in turn, into the National Electricity Grid. (How does wind power work? Modern wind turbines work just like traditional windmills. As the wind turns the blades, air stream energy is transformed into electrical energy. This passes down through cables inside the tower, and then through a transformer onto the national electricity grid. (How does Solar Power Work? Modern Wind Turbines Work Just Like Traditional Windmills. As the Wind Turns the Blades, its Energy is Transformed into Electricity). The Commonwealth constitutes significantly of members of developing economies in Africa. Individual countries have their own internal laws in place that could address to problems and issues caused by energy needs. While taking an overall view of the need to reduce dependencies on existing energy sources, or fossil fuels, it is necessary to seek alternatives. Factors like the use of alternatives like ethanol, hydrogen, natural gases, etc. emerge, which could reduce dependencies significantly and create large scale economies and conspicuous cost savings. The rules could be seen in terms of the fact that cost benefits should emanate from innovation, and it needs to be implemented on a long term basis. The transition from conventional to innovative techniques needs to be smooth and it should reflect the progressive attitudes of management. Rules: It is seen that energy sector has witnessed serious problems post Enron collapse. The Sarbanes- Oxley Act is direct fallout of the Enron debacle and is mainly intended to protect investor interests and ensure that another Enron does not encore. While innovation is understandable and necessary in the present context, it is also necessary to temper it with “accuracy and reliability of corporate disclosures.” (One Hundred Seventh Congress of the United States of America). Application: The Intellectual Property (IP) aspect would come into play at this stage. This is because innovations made by one company could be challenged by another, which may lead to unnecessary litigation. However, in the case of energy requirements, it could be said that patent rights could be obtained for new, unused, original and non-obvious products in use in the energy saving areas and be used for effecting cost and energy savings. While innovation need not substitute contemporary energy users, it could compliment the same and eventually replace them over a period of time. This is also because it takes some time for innovation to be publicly acceptable and marketable, and for it to gain forays in the marketplace. Conclusion: There are legal systems in the government administrative systems that monitor the use of conventional energy, which addresses the dual aspects of the need to conserve present resources, and also, at the same time, seek alternative and unconventional methods. In this study the relevant literature dealing with how solar and wind energies could be used is being discussed. Since energy business is core business, it affects all other sectors and the lives of ordinary people. High energy costs and concomitant demand- supply imbalances have become central issues, not only in Government’s bids to arrest inflationary trends in most economies, but also to ensure high growth economies in most countries, developed or otherwise.While alternative methods of energy are being evolved through innovative practices, it is also necessary to consider their long-term effects, and whether hybrid or alternative systems could be commonly obtained, just as contemporary energy resources are being used nowadays. The investments and returns also need to be considered, since this would have a direct bearing upon usage and popularity over the years. The market response and acceptability has to be weighed against savings and benefits that would accrue by using innovative and novel practices in the energy sector. Bibliography How does Solar Power Work? Modern Wind Turbines Work Just Like Traditional Windmills. As the Wind Turns the Blades, its Energy is Transformed into Electricity. 2008. [online]. BP. Alternativenergy. Last accessed 2 August 2008 at: http://www.bp.com/sectiongenericarticle.do?categoryId=9013395&contentId=7026241 How does Solar Power Work? Solar Panels Transform the Sun’s Energy into Electrical Energy that can Power Homes and Businesses. (2008). [online]. BP. Alternativenergy. Last accessed 2 August 2008 at: http://www.bp.com/sectiongenericarticle.do?categoryId=9013392&contentId=7026236 One Hundred Seventh Congress of the United States of America. [online]. HR 3763. Findlaw. Last accessed 2 August 2008 at: http://fl1.findlaw.com/news.findlaw.com/hdocs/docs/gwbush/sarbanesoxley072302.pdf SCHILLER, Melissa. Strategic Management of Technological Innovation. [online]. Last accessed 2 August 2008 at: http://userhome.brooklyn.cuny.edu/irudowsky/EmergingTechnology/lectures/Schilling-01.ppt#268,13,Part one: Industry Dynamics of Technological Innovation The Commonwealth of Massachusetts: An Act relative to Green Communities. [online]. Senate, No. 2768. Last accessed 2 August 2008 at: http://www.mass.gov/legis/bills/senate/185/st02/st02768.htm Read More