The Ultimate Revelation Of Renewable Energy And Economic Growth | renewable energy and economic growth

Renewable energy is used to refer to a source of energy that comes straight from the natural world. This could be from water, air or land. This is an infinite source of energy that would not deplete in its supply unlike the use of fossil fuels. The use of renewable energy has become popular all over the world for many reasons. Below are some of them:

Eliminating pollution. We do not know how much pollution is in the atmosphere; but it is estimated that this number is much higher than what it should be. Fossil fuels, such as coal and crude oil, pollute the air with heavy metals such as mercury and sulfur dioxide. This is a byproduct of their manufacturing process. By using renewable sources, we could eliminate this problem.

Economic growth. An increase in the economy can only be good for a country if there is an increase in the use of renewable energy as well. This is one of the factors why an economy grows and becomes more developed. If more people start to use renewable energy, they will find it cheaper and thus be able to purchase appliances for their homes.

Financial savings. Since the use of renewable energy does not pollute the air like other sources, there would be less air pollution. The same is true about the generation of electricity by the wind and the sun. Thus, there would be more savings in terms of finances.

Betterment of health. There are other sources of energy that could cause negative health effects. This is the case with the use of fossil fuels and nuclear power plants. Through the use of renewable energy, people would be at peace knowing that these sources are safe for consumption.

Reduction in dependence on others. If more people start to use renewable energy, there would be less dependency on others. This means that each family will have the right to decide how to spend their resources and thereby contribute to the maintenance of the ecosystem.

The decrease in import and export cost. If renewable energy becomes widely used, the country's currency will improve. The exchange value of the Rooibos, Nair and other native plants will increase. The use of renewable energy and economic growth would lead to the reduction of the nation's dependence on foreign sources of energy. The money spent on imported oil and gas can be allocated to more domestic consumption.

These are just some of the benefits that can be attained through renewable energy. Many countries around the world have started using this alternative source of energy. More governments will follow suit. As more individuals embrace renewable energy, so will the government's responsibility towards its citizens. With all these benefits, it is easy to understand why many are recognizing the importance of renewable energy.

The problem lies with not utilizing the power of renewable energy. There is a very high initial cost associated with setting up a renewable energy system. The equipment needs to be purchased and then installed. Then the system has to be maintained. However, with technology improving day by day, the cost of solar, wind, geothermal, and hydropower are becoming cheaper.

The primary reason for not using renewable energy is the concern for the environment. Since the sources are natural, pollution is prevented. Also, since electricity is created from natural resources, it is cleaner. Electricity generated from fossil fuels causes grave . . . . . . damage to the atmosphere. The use of renewable energy is therefore necessary to prevent such drastic changes in the environment.

Another advantage of renewable energy is economic growth. It is believed that if the entire world makes use of renewable energy, global warming can be avoided. This in turn will lessen the strain on the earth's natural resources and therefore will enhance economic growth. Also, in utilizing renewable energy, the process of creating electricity is thought to be clean. In addition, renewable energy does not affect the reliability of the world's power grid.

Although renewable energy and economic growth are not mutually exclusive, it is believed that the former will definitely lead to the latter. Experts believe that increased use of renewable energy will reduce the strain on the world's limited supply of non-renewable energy. This, in turn, will help to stabilize prices and stabilize the economy. The world would be able to use more energy while the prices are low. Also, there would be a decrease in the threat posed by climate change.

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