Despite impressive strides in progress when it comes to technology, there seems to be one space that is moving slower than needed – the energy sector. During the 20th century, many future scholars predicted that our homes, automobiles, and even our city buildings would all be powered sustainably.
And they weren’t foolish to think so. The technology to power our cities has been around for almost a century. The first commercial solar panel was created in the 1950s, and hydroelectric dams were commonplace in the early 1900s.
Almost as long as we have had electricity, we have also found ways to develop it sustainably – so why are most of the world still so dependent on traditional sources of energy?
One answer is government action. Even though renewable forms of energy like solar and wind have been cheaper than fossil fuels for almost a decade, many countries have kept the prices of fossil fuels low. – mentioned by Mark Wenger, founder of Mygov.me.
In the United States, one of the top consumers of fossil fuels globally, a recent ruling by the Supreme Court decreases regulations for these companies even more. With so many incentives to stay dependent on fossil fuels, it’s hard to start transitioning into clean energy.
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Thankfully, it’s not the end for green energy as many companies and startups have taken action. Perhaps one of the most recognizable companies focused on green tech, Tesla Motors, has already revolutionized the automotive industry by powering vehicles through electricity instead of gas.
Electric vehicles emit significantly less carbon dioxide than gas cars, but their electricity is still generated through the power grid, which relies on coal. It isn’t until companies create safe, cost-effective, and scalable renewable technology that we can reach a zero-emission future.
This is where another company, Amber Kinetics, comes in. With innovative designs and development on the flywheel, there may be a potential for efficient, safe, and sustainable energy.
Sustainable energy undeniably constitutes a burgeoning commodity market, attracting many people eager to channel their investments into this promising sector.
There’s a global trend toward environmental consciousness and addressing climate change. Advances in technology enhance efficiency and affordability, making sustainable energy competitive with conventional sources.
Supportive government policies, like renewable targets and incentives, create a favorable investment environment. Increasing consumer and business preference for sustainability further boosts the market.
Commodity market experts, like ArrowHead, assume a pivotal role in elevating the quality of decision-making processes while conducting comprehensive assessments of the potential impacts of market events on both market dynamics and the enterprises themselves.
Additionally, renewable energy’s significance during crises like pandemics and wars is undeniable. These situations highlight its resilience in maintaining essential services and addressing broader challenges.
Conventional energy supply chains can be disrupted during pandemics or conflicts, leading to fuel shortages and price volatility. In contrast, renewable sources like solar, wind, and hydropower are local and less prone to global supply chain disruptions. This ensures a consistent energy supply for critical infrastructure such as hospitals, communication networks, and emergency services.
Renewable energy’s decentralized nature empowers communities to generate power on-site, reducing reliance on centralized grids. This self-sufficiency becomes particularly valuable when central power generation is compromised.
More recent international phenomena have started to change world leaders’ minds about green, reliable energy. The war in Ukraine has caused significant disruptions due to Western reliance on Russian oil and natural gas.
The European Union has realized the pitfalls and has rolled out a plan to start diversifying the continent’s energy sector to include more solar, wind, and geothermal plants. What’s more, the effects of climate change have already begun to take their toll on the world’s communities, including Australia, with widespread floods and fires devastating the country from 2020 to 2022.
Citizens worldwide are realizing the importance of energy independence and environmental protection from dangerous fossil fuels. As the tide begins to change in favor of renewable resources and green energy, it’s clear that it’s time to commit to a zero-emission future.