What is renewable energy? Renewable energy is defined as a form of energy that is collected from sources that are naturally replenished on human timescale, this include the sun, tides, wind, rain and geothermal heat. Starting a company in the field of renewable energy would involve deciding from the major sources which of the renewable energy source is best suited for their endeavor. The area of renewable energy can be divided into four main areas that it provides energy for; electricity generation, a transportation, water and air cooling/heating, and rural energy services. Based on a report by REN21 2014 renewable energy contributed about 19 percent of the human energy consumption and a further 22 percent to generation of electricity globally. The report capped worldwide investments in the renewable energy sector and technologies at more than $214 billion in the year 2015 with the majority of the investments been in the united states and china in the area of hydro, solar and biofuels.
Before jumping in the lucrative field of energy their critical issues about the renewable energy sector that need to be reviewed and understood. Reviewing this issues ensures that one can see from a scientific point of rather than employing emotional and humanitarianism perspective to the whole issue of going into renewable energy production company. One critical issue is looking at how much energy is returned for the energy invested. This is a critical issue that needs to be out into perspective before finally venturing in the renewable energy business. Another critical issue is reading on the details and the fine prints of the similar companies in field of renewable energy production. Their needs to be verified information that details the actual process of signing up for the renewable energy business. Another issue is understanding the market needs and how the chosen field fits in the market gap. The ability to read and come up with workable plan that can be implemented and result in a profitable venture while at the same time fulfilling the purpose of providing clean alternative energy is of great significance. Understanding the renewable energy source is another critical issue when considering venturing into the sector. Finally, understanding critical issue of the rights and proper procedures to be followed when venturing in the business of production of renewable energy.
Analyzing the renewable energy industry includes giving a closer look at the critical issues and what their implication are to the energy industry. Renewable energy be it wind, geothermal, solar or any other form of renewable energy is most certainly in the stages of discovery. The renewable energy usage and even technology is quite dynamic and what can be considered cutting edge discoveries on renewable energy today can be completely overtook in just a year. Consider solar panels for instance, initially the concept of capturing solar energy was using the panels that would absorb the solar energy convert it to electrical energy and store it in a power source this technology is completely overtaken by more recent technologies that have proved to harness the solar energy more efficiently and much more effectively than the solar panels which depended entirely on the solar energy. The new technologies can use even light energy to still generate the required energy even in the absence of the solar heat energy. Companies that chose to invest in renewable energy must be able to constantly evolve, adapt and remain on top of major changes in this field. While investing in the renewable energy business is similar to making investments the biotech or technology stocks where a single invention change be the beginning of a new technology in the renewable energy sector.
Renewable energy provides substantial benefits for our climate, health and the economy. Looking at every source has its own set of benefits associated with it. Intermittent renewable energy source represents the majority of the share of the new renewable energy. Implications of the renewable energy to the issue of global warming. Human activity are a major cause of environmental. Electricity production in most parts of the globe accounts for more than one-third global warming related emissions, majority of the emissions are generated by coal-fired power plants, which emit about 25 percent of total global warming related emissions; natural gas-fired power plants emit about 6 percent of total emissions when compared to most renewable energy sources which emit little to no global warming related emissions.
Based from to data compiled by the International Panel on Climate Change, the life-cycle global warming related emissions associated with renewable energy which includes the manufacturing, the installation, processes of operation and the overall maintenance, and dismantling and decommissioning are negligible to minimal at best. Comparing this to natural gas, which produces between 0.6 and 2 pounds of emissions related to global warming. Generation of Renewable electricity from biomass sources can have an adverse effect on of global warming emissions. This will be dependent on the resource itself and how it is actually harvested. When sustainably sourced, biomass sources can have low emissions footprint, while those considered as unsustainable sources of biomass have the capacity to generate significant levels global warming emissions.
Works cited
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"NREL: Energy Analysis - Sustainability Analysis". Nrel.gov. N.p., 2015. Web. 12 Apr. 2016.
"Renewable Energy And The Need For Storage: Lessons To Be Learned From The Situation In Germany | Energy Storage | Generation And Storage | Energy Central". Energycentral.com. N.p., 2016. Web. 12 Apr. 2016.
