Introduction
Renewable energy is critical to the long-term health of our planet and the people and animals that inhabit it. Renewable energy can take a lot of different forms such as nuclear power, solar power, and more. The key concept of renewable energy is that the form or energy being used causes as minimal long-term damage to our planet as possible. The environmental impacts of many different forms of energy are highly debated, but in this blog, we will explore some of the current trends, economic opportunities, and renewable energy sources.
Current Trends
New technology has been constantly emerging for the past several years. Batteries and other more efficient methods of storing energy has been developed assisting in keeping the energy that we have produced as useful as possible. Lithium-ion batteries are continuing to be developed making them less costly, have a longer lifespan, and be more efficient. One of these developments is that the lithium in these lithium-ion batteries is reusable. The recycling of this material would hypothetically decrease the need to strip mine lithium which can be very harmful to the environment.
Policy and regulatory changes and initiatives are critical in the progression of renewable energy. Pollution tends to be more severe in developing countries due to a combination of factors. Rapid industrialization, urbanization, and lax environmental regulations can lead to significant air, water, and soil pollution. Tight environmental regulations in these developing countries could lead to a decline in economic development leading to disastrous consequences like an increase in unemployment and more.
One major issue with renewable energy and the changing of our climate is that it is heavily debated among experts how much humans are influencing climate change and the effects that our climate changing is having on our environment. This debate raises questions around how strict regulations around climate change should be and how enticing costly government subsidies should be.
Economic Advantages and Disadvantages
Renewable energy could create long term savings from both an environmental and economic standpoint. With that being said, many types of renewable energy have high costs to get into the industry and may yield low returns for a long period of time. This makes it hard to realize and project benefits from an economic standpoint for a while even after one may start a business. This is one of the reasons why there are government subsidies to incentivize businesses to innovate in the renewable energy field.
There are a numerous amount of economic challenges and disadvantages when it comes to renewable energy. Renewable energy can require significant upgrades to existing infrastructure which can be very costly and time consuming. Additionally, renewable energy requires a wide variety of different natural resources that can be costly especially in areas where these resources are not readily available. These high costs associated with renewable energy are generally a larger issue for developing countries who do not have the money to spare for these expenditures.
Conclusion
Renewable energy continues to be a growing concern both in the United States and by other countries globally. We hope this blog shined a light on some of the benefits and concerns when it comes to renewable energy. At Highlands Environmental Solutions, we strive to make the environment a better place every day. Click the link below or reach out to info@hesnc.com to learn more about what we have to offer!
