Energy News

Shift Toward Renewable Energy Still Underway

The world recently caught unawares by the coronavirus pandemic. The virus has come to earn its novelty as one of the deadliest viruses to hit the human race. However, the virus is among one of the many problems facing humanity. The earth is still on a deteriorating state owing to years of environmental degradation, and while the virus takes center stage, tackling environmental conservation remains a significant problem 

The state of the earth’s climatic condition has been continuously worsening due to environmental degradation. While we move forward in technological advancements and pay attention to containing the virus, it is essential to accept that climate change is real. On a small scale basis, climate change affects us in several ways, including causing respiratory illnesses, making us prone to attacks from diseases like Covid19. Shifting from fossil fuels will save us not only from expenditure but also help preserve our planet 

According to data, Fossil fuel consumption generates 25% of the harmful emissions released into the atmosphere. This figure is not inclusive of the outputs produced by the manufacturing and transportation sectors. A summed total of emissions output from all three sectors constitute 60% of the total emissions, with manufacturing contributing 21% and transport making 14%. 

With these figures, the meet needs to shift from fossil fuels is evident. The good news, however, is that the move was underway before this announcement as the renewables continue the upgrade, their propensity to provide electricity on demand increases sufficiently. This outcome is due to an upcoming move to better versions of renewable tech capable of generating more power output from a small unit. As technological advancements improve, so will power output and our dependence on renewable sources of energy. 

It is not enough just to produce energy; storing excessive output is crucial. Of the total energy plants, 72% of new energy sources installed in 2019 represented renewable energy supplies. The prospect will receive backing up by additional investment that could generate returns of 800%. It is evident that the fossil fuel industry is a less profitable sector; more investors see its economies as toxic as its emissions. It never made more sense to reconstruct a country’s energy supply map that it is now. 

The move to renewables includes the countries in the developing world. Even important coal producers such as Australia are expecting considerable savings from declining renewable energy prices and forecasts. Coal dependant countries project a shift to solar and wind power by 2040. However, Norway plans for all its domestic flights to be electrified by 2040.