[Thematic Report] [Renewable Energy]by Jaewon Chang | 25-11-2019 11:12 |
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Our current dependence on non renewable energy sources such as natural gas, oil and coal have driven global warming worldwide. Countries have been attempting to change their energy productions methods to renewable, clean methodologies such as wind energy, solar energy, and hydro energy. The biggest concern associated with the reliance on renewable energy sources is often the cost. The thought of spending more money to produce an equal amount of energy has limited many countries from completely relying on renewable energy sources. However, new research suggests that renewable energy can prove to be more cost-effective in the long run. The cost of wind power was $30-$60 per megawatt hour, and larger scaled solar panels had been $43-$53 per megawatt hour. When comparing these values to the cost of most efficient natural gas energy sources (around $42-$78 per megawatt hour), there is a clear discrepancy. The cost should not be a limiting factor in the conversion to a perfectly renewable energy source. Countries will continue exploring new methods of decreasing the cost of renewable energy sources to make renewable energy a more viable option in comparison to non-renewable energy. We must also take into account the importance of renewable energy sources in the modern era. With the issue of global warming being prevalent, the need for clean, renewable energy sources will increase. Governments around the world have attempted to increase the usage of renewable energy sources through policies, such as a tax on carbon or implementing a cap and trade policy. These actions have resulted in a decreased consumption of non-renewable energy sources. Ultimately, it is necessary for us to acknowledge the importance of renewable energy in our lives and we must strive to achieve a greener world.
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