Overview of Renewable Energy, Its Sources and Importance

The world is rapidly becoming an international village due to the growing demand for energy from all populations worldwide, while the earth's shape and form will not change. The market for energy and related services to support human economic and social development, well-being and health is growing. Returning to renewable energy sources to help battle the consequences of climate change is a great strategy that must be sustainable to meet the energy needs of the future generation. The prospects associated with renewable energy sources include Energy Security, Energy Access, Social and Economic Development, Climate Change Mitigation, and decreasing health and negative environmental impacts. In spite of these advantages, however, there are obstacles that limit the viability and sustainability of energy from renewable sources in mitigating climate change. These obstacles include market inefficiencies, lack of information, and the availability of basic materials needed for future distribution of renewable energy resources and our carbon footprint.

Importance of Renewable Energy

The growing request for energy around the globe coupled with an increasing population has resulted in the continued utilization of fossil fuel-based power sources (gas, oil, and coal) that became problematic due to creating numerous challenges like the loss of fossil fuel resources, greenhouse gas emissions, and other environmental issues in addition to military and geopolitical conflict, and constant fluctuation in the price of fuel. These challenges will result in unstable situations that could lead to potential threats to human civilizations.

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However, renewable energy sources are the most effective alternative and are the only answer to the increasing issues. In 2012, renewable energy sources provided over 20% of total global energy production, which was unimaginable ten years ago. The availability of reliable energy is crucial across all industries for lighting, heating and industrial equipment, transportation, transportation, etc.

Renewable Energy | Sources and Importance

Renewable energy can help vastly subside greenhouse gases when substituted with fossil fuels. Since renewable energy sources are created naturally by the continuous flow of energy from our environment, it is essential that they are sustainable. In order for renewable energy to become sustainable, it has to be unlimited and offer environmentally friendly products and services. For instance, a biofuel that is sustainable does not need to increase net carbon dioxide emissions, must not negatively impact the security of the food supply, and should not affect biodiversity.

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Technology

Renewable technologies are viewed as renewable energy sources that are clean, and their optimal utilization lessens the environmental footprint, creates a minimum of secondary waste, and is sustainable in line with present and the future needs of society and the economy. Renewable energy technologies present an outstanding opportunity to diminish greenhouse gas emissions as well as reduce global warming through the substitution of traditional energy sources.

Energy Security

Because of the interconnectedness between energy consumption and economic growth and the need for a steady energy supply is crucial for the political world as well as a financial and technical issue for both developing and developed countries since prolonged interferences could cause serious problems in terms of basic functionality and economics for the majority of societies. Energy sources that are renewable are equally all over the world as when compared to fossil fuels and are generally not as traded in the marketplace. Renewable energy can lower the need for imports of energy and can contribute to the diversification of the options for supply. It also reduces the vulnerability of an economy to price fluctuations and offers potential opportunities to increase security in the energy sector all over the world. Renewable energy sources could also contribute to enhancing the reliability of energy services, and be particular in regions where there is a lack of grid connectivity.

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Social and Economic Development

The energy sector generally has been viewed as a crucial factor in economic expansion and has a strong correlation with economic growth and an upsurge in energy consumption. In the world, per average incomes are positively related to energy consumption per capita, and economic growth could be recognized as the primary reason for the increase in consumption of energy over the past several decades. It also provides job opportunities. Renewable energy research in 2008 found that the employment generated by renewable energy technologies is around 2 million jobs in the world and has also enhanced health education, gender equality, as well as environmental security.

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