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How Renewable and Sustainable Energy is Reshaping the Global Economy

The renewable energy industry has grown considerably over the past few years. Renewable sources, such as wind, solar, hydro-power and geothermal power are now competitive with fossil fuels like coal and natural gas. It is important to note that renewable energy is clean, pollution-free and sustainable. Nevertheless renewable resources still only account for around 12% of global consumption. The renewable energy industry faces challenges in terms of how it can be scaled up to meet the world’s growing need for low carbon electricity generation without compromising its benefits such as reduced air pollution and lower greenhouse gas emissions than fossil fuel alternatives which contribute towards climate change. This article aims to explore how these challenges could be overcome by looking at renewable energy projects overseas where there have been successes.

The renewable energy industry has grown considerably over the past few years. Renewable sources, such as wind, solar, hydro-power and geothermal power are now competitive with fossil fuels like coal and natural gas. Specifically in Europe renewable sources accounted for more than 50% of all new electricity generation capacity in 2016 . It is important to note that renewable energy is clean, pollution-free and sustainable. Nevertheless renewable resources still only account for around 12% of global consumption. The renewable energy industry faces challenges in terms of how it can be scaled up to meet the world’s growing need for low carbon electricity generation without compromising its benefits such as reduced air pollution and lower greenhouse.

In order to overcome these challenges renewable energy sources will have to be made more affordable and cost competitive compared to alternatives. This article aims to explore how renewable energy can become a viable long term solution which could lead the way for a renewable revolution by looking at renewable energy projects overseas where there have been successes.

Renewable and sustainable energy is starting to play a very important role in the global economy.

Renewables are renewable energy sources that provide energy with little or no negative impact on the environment (sustainable). According to the International Energy Agency (IEA), renewable sources can produce up to 23% of global electricity, with hydro-power providing around 16.6% and wind, photovoltaic solar, geothermal renewable ranked second after hydro-power as renewable sources (IEA, 2011).

Renewable energy is the production of energy from renewable resources such as sunlight, wind, rain and renewable biomass. Each renewable source has different components that make it sustainable to various degrees; however, renewable energy can have a very positive impact on the environment in which it is used.

Solar energy is one of the most available renewable energy sources required to produce renewable sustainable electricity. Solar photovoltaic panels are being installed in buildings across the globe due to its many benefits. These benefits include environmental friendliness, economic feasibility, low maintenance, energy efficiency, renewable energy generation and many others. Solar photovoltaic panels are being utilized more often due to their ability to provide renewable electricity at a competitive price compared to other renewable sources such as wind or hydroelectric power.

Recently, the increase in installations of solar photovoltaic panels is starting to have an effect on the global economy, as renewable sources of sustainable energy continue to increase.

Renewable and sustainable energy is now starting to play a vital role in the global economy, as renewable sources of electricity are becoming more economically efficient than others such as coal. In fact renewable energy sources have become cost competitive with fossil fuels for providing new generation capacity in a variety of countries.

Renewable energy sources have become cost competitive with fossil fuels for providing new generation capacity in a variety of countries.

There continues to be significant growth from 2014-2015, where clean power investment continued to set records, reaching $286 billion dollars worldwide. In that year, renewable energy sources were the second largest source of electricity installed behind natural gas. In 2015, renewable energy sources accounted for around 57% of net additions to global power generating capacity. According to a report from the United Nations Environment Program (UNEP) and Bloomberg New Energy Finance (BNEF), 2016 was a record year for renewable energy, with renewable sources accounting for more than half of net electricity capacity growth.

Renewable and sustainable energy is now starting to play a vital role in the global economy, as renewable sources of electricity are becoming more economically efficient than others such as coal. In fact renewable energy sources have become cost competitive with fossil fuels for providing new generation capacity in a variety of countries.

The economic feasibility is not the only reason renewable energy is starting to drive sustainable economies, but also because renewable energy has many other benefits compared to traditional power sources. According to the World Economic Forum’s (WEF) renewable energy report, renewable energy has the ability to “create jobs, deliver savings to consumers, improve air quality and reduce CO2 emissions.” This is just a few of the many benefits renewable sources have over traditional power sources. The fact that renewable sources are now sustainable because they can provide cheap electricity at competitive prices compared to traditional sources is reshaping the global economy.

Today renewable energy technology costs have declined significantly and there has been a significant uptake in investment and installation of renewable sources, especially solar and wind power. This is being seen all across the globe in various countries including China, Chile, Brazil, Mexico to name just a few.

Renewable energy sources have become cost-competitive with fossil fuels for providing new generation capacity in a variety of countries.

Renewable energy sources have become cost competitive with fossil fuels for providing new generation capacity in a variety of countries. This is just one reason why renewables are reshaping the global economy, and it’s no surprise that many companies are investing heavily into this sustainable source of power. In fact, according to World Economic Forum (WEF), “Renewables can provide cheap electricity at competitive prices compared to traditional sources.” As more people start using renewable resources as their main form of generating power, there will be fewer greenhouse gas emissions released into our atmosphere which means cleaner air quality for all of us. If you’re looking for help transitioning your business from traditional power sources over to sustainable ones? Let us know!