Renewable Energy: It Might Be Our Only Chance

25 Jun 2007

We have been hearing for awhile now about climate change and the effects which it is having on the environment and with hiking oil prices and governmental policies have triggered an environment for the investment in renewable energy. Global trends investment in energy efficiency and renewable energy seems to have brought renewable revolution right to our doorstep, but is it late for this renewable revolution.

A report by the United Nations (UN) claims that clean energy could provide almost a quarter of the world’s electricity by 2030. Renewable sources today produce about 2% of the world’s energy, they now account for about 18% of the world investment in power generation, with wind generation at the investment head. Follow by Solar and Bio-fuel energy technologies, which are growing at quicker paste than wind.

Around 40% of the capital invested in solar went towards new technology development. In biofuels, the proportion was about 20%, reflecting a surging corn-based ethanol industry in the U.S., as well as research into second-generation biofuels, including cellulosic ethanol.

Many developing countries seem to be turning towards renewable energy! A healthy 9% of global investment was made in China. India is lagging a little behind china, and with Latin America taking 5% of the global investment, most of which financed the Brazilian bio-ethanol plants.

But nonetheless renewable energy is maybe our only hope in saving our environment and our resources. Climate Change is like a cancer and everyone on this planet is going to be effected by it. If we shift from fossil fuels to renewable fuels it’s definitely going help the environment and maybe we can save our plant for another 200 years.