Overview
Current status of energy sources has to be controlled and modified significantly in order to manage the need of energy for global basis. It is important to consider the renewable sources of energy such as wind energy yet to be explored at its highest potentiality. At the same time it is important to note the advantages associated with the move.
Executive Summary
In this essay paper the importance of wind energy has been presented to show the global impact of energy crisis based on fossil fuel. Fossil fuel is very harmful as far as environment has concerned. Therefore it is better to shift the focus on renewable energy sources which are eco-friendly and at the same time can be used as a source of eternal energy. First of all it is important to start the initiative at the highest level and each and every country of the globe has to step up to the platform to accept the reality and implement policies and techniques to generate renewable energy sources such as wind energy. Since the very beginning of industrialization fossil fuel has considered to be the one and only predictable source of energy. Therefore excessive use of fossil fuel has produced the problem of global warming. The onus has to be taken by the developed countries to rethink their strategies in industrialization and would come up with the policies that can prove to be helpful for the environment and the inhabitant of the globe.
Considering the present situation of the energy sectors wind energy has certainly showed a lot of potentiality and promises that can be utilized significantly by the developed and the developing countries to concentrate more on wind energy production to put an end of energy crisis as well as global pollution caused by fossil fuel. The intensity of the leaders of each country has to be the key factor in this case to say the least. It is important for the developing countries to consider the fact and prepare its mission and goals of industrialization as per requirement. In order to develop practices related to wind energy the developing countries must follow the footprints of the developed country where the efficiency and effectiveness of wind energy has been presented practically. The leaders and the policy makers of the countries have to take the initiative to prepare policies and arrange fund for the implementation of this particular source of energy in their own backyard. In order to drive the changes in energy sector a lot of commitment has to be shown and the impact of this sort of steps has to be critically analyzed at the same time. In the mean time it is equally important to find out the future of the wind energy and evaluate the political as well as economical obstacles, barriers and challenges associated with the process.
Introduction and Background
Wind energy industry is a very popular and potential energy at present day situation. The wind economics is based on prices of costing in production of wind energy. Basically it is a growing industry in the developed and developing countries of the world. Since the developed countries have found the necessity of alternate sources of energy they have put more concentration on developing renewable sources of energy. Many developed country has developed the essence of subordinate sources of energy that will be eco-friendly to say the least. The leaders of the developed countries have engaged together to build a unity in developing energy sources like wind energy at its highest potentiality. Very beginning of the project the costing of production was excessive as new set of devices, instruments and technologies have to be set up. Therefore the set up cost was calculated to be huge. The installation of windmills and other accessories have to be arranged in order to grow the wind energy industry. At the same time for business prospective it is essential to calculate the positives of the investment. A number of factors have been taken under consideration in case of initiating the wind energy industry. Many developed country has made adjustments to their fiscal policies to make a forward step to this section promoting the non renewable sources of energy at the highest industry level.
There are a number of factors that has possibly influenced to initiate wind energy industry in the developed countries. First of all the concern of energy crisis and the increasing cost of fossil fuel have probably provoked the developed countries to go for the renewable sources of energy. It is most important to feel the essence of that as fossil fuel has been constantly damaging the environment since the very beginning of industrialization. Although the development of renewable sources has begun since only a decade or so but the wing energy has outpaced other renewable energy sources to say the least. Significant progresses in installation of windmills have brought down the production costs in a level quite significant with fossil fuel which is a bonus. In spite of all the development in the industry the share of wind power in energy industry is very little but it has very presented a great futuristic figure that can increase the production significantly. Still developing countries of the world have gone with own pace to consider the wind power significant basis. A number of questions are yet to be answered in order to solve the dilemma they are in at this point of time.
Discussion of the issues
In order to discuss the issues associated with topic it is important to take a look on a number of sections that can influence the discussion. Most importantly in wind power generating system the modern technologies gave played a huge role to be honest. In order to set up a wind power production system knowledge of accessing transmission line is very important. At the same time meteorological data has to be monitored before the installation of the whole system. Besides a number of maintenance systems have to be monitored simultaneously to get the job done. A lot of financial decisions have to be taken to figure out the estimation of the installation as well as the maintenance of the system (Eiffert and International Energy Agency PVPS Task 7.). A number of basic requirements have to be arranged to begin the project. For business prospective it is important to mention that the wind energy generated through the process has been utilized to convert it into electricity that has been used to run the industries of the society. Therefore the maintenance of the system is so much vital (Oral, Bahsi and Özer). At the same time a number of starts up businesses can be initiated to bring down the energy use. In order to reduce energy production solar energy systems can be a popular choice too. However in the current circumstances a number of factors are driving the industry to make further growth.
Global leaders have come up with a number of policies to take the industry forward in the global market. The developed countries and the developing countries now understand the effectiveness of renewable sources of energy. In order to change the current practices regarding to the energy most of the countries have take the initiative to take the matter seriously. At the same time from the current market prospective the industry has found consumers of the renewable energy sources to the good effects (Håkansson et al.). At the same time global business community has observed the value of saving the non renewable energy as fossil fuel is very harmful for the environment. A number of figures have been added and explained in support of the growth of the industry as per data and statistics collected from the Global Wind Energy Council.
Figure 1: Global Installed Wind Power capacity
The Global Wind Energy Council has mentioned in their statistics that 51,477 MW new wind generating capacity systems have been newly installed globally in the past year. In figure 1 the global installed power capacity has been presented region basis to show a collective data (Gwec.net). In 2014 only the capacity installed was 369,553 MW in the world, maximum in Asia as the figure represents 142,119 MW.
Figure 2: Top 10 Cumulative Capacity December 2014
In figure 2 the top ten cumulative capacities in Dec 2014 has been presented. Share wise PR China has got the maximum share of 31% of the complete share (Gwec.net).
Figure 3: Top 10 New Installed Capacity in 2014
In figure 3 the top ten new installed capacities in 2014 has been presented. The figure shows total of 51,477 MW capacities has been newly installed in 2014 only.
Figure 4: Annual Installed Capacity by Region 2006-2014
Figure 4 represents the annual installed capacity by region since 2006 to 2014. In case of Asia the situation is improving excellently to say the least as it crosses 25,000 MW in the last year (Gwec.net). At the same time it can be said that developing countries are improving significantly in order to install wind power generator systems.
At the end of the discussion it can be mentioned the industry yet has to go through significant hardships and barriers as financial and economic condition of the global market is quite shaky at present situation (Gemelli).
Future Prediction
The data and statistics shown by the Global Wind Energy Council are very impressive as far as future of the wind power industry has concerned. The figures are setting new records as the annual market growth of the wind power industry has seen a 44% increase till the end of 2014. After a significant slowdown in 2013, promising numbers have shown the potentiality of the industry. As far as global economy has concerned in future wind industry can make a huge impression as predicted by the economic experts. The International Renewable Energy Agency (IRENA) has predicted that by 2020 the offshore wind power generating cost can be significantly shown a downfall to $110 per MWh. Apart from that IRENA has confirmed that the installation cost of the set up of wind power industry are falling slowly but steadily.
Besides of a lot of positive statistics and commitments there are a lot of challenges associated with the wind power industry especially in the developing countries. These can be classified in a number of ways such as technical challenges, market barriers, economic and financial challenges, capacity based challenges and many others. The resources available in the developing countries cannot fulfill the criteria of becoming successful in wind power production. Apart from that the lack of intensity from the local government can be a vital issue that has to be resolved. In case of technical barriers the lack of transmission line and installation procedure can be one of the biggest issues. At the same time metrological statistics provided in the spaces are showing inadequate data for installing wind mills. Simultaneously the market demand in the developing countries won’t change in a day or two. It will take a number of years to assess the importance of renewable power resources which is a significant drawback. Meanwhile the most important issue for installation the wind power system is the financial condition of the developing countries. They probably not make a huge effort in investing so much money for the development of wind power industry.
Conclusion
Eventually it is essential to draw a conclusion of the current situation regarding to the economical policies attached with wind power industry all over the globe. In case of developed country the situation is lot brighter than the developing countries where a number of issues are hindering the progress of the industry. At the same time it is very logical to note that the installation of the wind power generating system has been increased in a significant numbers in the past few years. The global installed wind power capacity has also increased at a rapid pace pointing towards an impressive growth of the wind power industry. The installation numbers are seen a new high that suggests the countries are supportive in promoting the renewable sources of energy at the highest level. In order to make a decisive steps for the future of the environment it would be quite ethical to say that promoting renewable energy sources all around the globe can send a message to the community to be proactive to save the current sources of energy for the future generation. At the same time for economic prospective of the globe it will prove to be a very effective measure that can be rest assured.
References
Eiffert, P, and International Energy Agency PVPS Task 7. Non-Technical Barriers To The Commercialization Of PV Power Systems In The Built Environment. Washington, D.C: United States. Dept. of Energy, 2003. Print.
Gemelli, Alberto. GIS To Support Cost-Effective Decisions On Renewable Sources. London: Springer, 2013. Print.
Gwec.net,. 'GLOBAL STATISTICS - GWEC'. N.p., 2015. Web. Apr. 2015.
Håkansson, Anne et al. Sustainability In Energy And Buildings. Print.
Oral, Ahmet Yavuz, Zehra Banu Bahsi, and Mehmet Özer. International Congress On Energy Efficiency And Energy Related Materials (ENEFM2013). Print.
