As Climate change takes its toll there is an obvious need to harness alternative or renewable energy forms to prevent formation of greenhouse gases that are released in the environment. These alternative sources of energy offer several indirect and direct economic advantages on the macro and micro level. Over time, there has been discussion on the damage caused to the environment by pumping harmful gases into the atmosphere.
Renewable energy sources offer several indirect and direct economic advantages at a macro and micro level. Over time, there has been discussion on the damage caused to the environment by pumping harmful gases into the atmosphere. Several ideas on the way to safeguard the environment have been put in place by either social consciousness o by legislation to assist in cleaning up the earth as well as minimizing the future likelihood of pollution.
The ideas range from recycling, collecting trash and using alternative sources of energy. The following are some of the reasons why we need alternative sources of energy.
1. Its a Reliable Source
The renewable energy sources such as solar and wind may help in building a more resilient and reliable energy mix. Nations grid operators have reliably integrated large energy amounts, and studies show that we can go further.
The renewable energy systems seem to be less probable to experiencing a large scale failure because they are spread over a large geographical area and made up several units of equipment e.g batteries and solar panels or Wind Turbines. This means that the problems in one geographical area such as severe weather or even the problems with a single piece of equipment cannot have as much impact when it comes to the disruption of services to a whole region.
2. Creates jobs
The increasing interest in alternative energy sources has led to growth in the job industry. According to reports by various bodies, over 500000 new renewable energy jobs were created and more continues to be created with a steady increase annually.
The renewable energy workforce increases because of the reducing technology costs, more demands of clean energy and efficiency technology and supportive investments and policies. The main work includes a broad range of well-paying job opportunities such as the installation of solar panels, developing electric vehicles, auditing the energy efficiency and many others.
3. Improvements in public health
Water and air pollution may generally affect air quality. The water and air quality emitted by natural gases and coal are associated with breathing issues, heart attacks, premature death, cancer as well as host many other serious health issues. Pollution cause affects every individual.
Replacement of fossil fuels with renewable energy sources assists in minimizing the harmful emissions to improve the water and air quality that consequently helps to improve public health as well as lowering the healthcare costs. The most adverse health implications come from water and air pollution which renewable energy do not produce.
The solar, hydroelectric and wind energy systems produce power not associated with the air pollution emissions.
4. Energy independence
Sources of alternative energy such as sun, water and wind do not need to be imported, the use of green energy helps in reducing the country’s dependence on imports such as oil. The use of renewable energy sources could make nations attain energy independence which is the ability to meet energy needs domestically hence minimizing reliant on foreign countries and susceptibility to the fluctuating energy costs.
The rise in renewable energy sources could minimize the dependence on foreign oil. It is also noted that renewable energy does not run out, and thus a nation can count on such independence over the long term.
5. Abundant energy supply
Renewable energy is usually replenished naturally and relatively fast. The alternative energy sources such as water, wind, geothermal heat and sunlight could supply the whole nation’s needs with the surplus. With the finite supply of fossil fuels, renewable energy sources are entirely inexhaustible.
The installation of alternative energy can need significant upfront investments; however, after installation, they become cheap to install. This is in large part as they do not need one to buy fuel. The elimination of the fuel prices of the energy produces implies that the electricity cost is not susceptible to any changes in the cost of fuels just as the coal and natural gases. This may result in stable energy costs in the long term.
6. Local Government Income
Some of the local administrations collect taxes and revenues that can be used to improve public services. The direct and new jobs created in the able energy industry establishes a ripple effect which benefits other related industries and even the communities at large. The economic advantages of renewable energy fail, one can start to harness the advantages of renewable energy like solar.
7. Landowners income
Renewable energy sources offer an extra source of income for rural farmers and landowners. Wind farms offer about $222 million annually to the landowners who host wind farms in their land. The landowners also make cash by growing crops such as biofuels. The corn ethanol is presently the main avenue through which farmers are involved in the energy sector; however, other biofuels have started to gain attention.
To sum up, as the issues resulting from the use of conventional fossil fuels continue to become prominent, alternative fuel sources such as solar and wind are likely to gain more importance. Their benefits eliminate several issues caused by the use of fossil fuels, especially when it comes to emissions. However, the advancement of technologies has been slowed by the investment amounts required to make them viable.