Making green power affordable and scalable will be one of the more essential topics regarding the next century. Fossil fuels will run out – it’s only a matter of time – so we have to be prepared for that eventuality whenever it occurs.
Just how do we make green power affordable? Let us take a look at the primary challenges, feasible solutions and that which you myself can do to help.
==> The Main Challenges
The principal challenge of green power is its price. At the moment, energy invested into green sources yields a return that’s anywhere between three to ten times more costly than fossil fuels.
This is exactly why there is so much more cash to be produced in fossil fuels than green energy. The return on money is a lot higher.
The periodic nature of green energy can be a big challenge. As an example, wind does not constantly blow therefore the sun doesn’t always shine, making wind and solar power hard to manage regularly.
In order for wind and solar energy become competitive, there has to be significant breakthroughs in battery technology, both in cost as well as in storage space capabilities.
==> Working Towards a Solution
How does one overcome these challenges?
Green energy venture capitalist Vinod Khosla has looked over the problem as a matter of experimentation.
To make green power scalable, a brand new technology that is as profitable (or close to as profitable) as fossil fuels and coal has to be discovered.
So long as green power is only lucrative whenever subsidized by governments, it will not take off to your scale of fossil fuels. The reason why fossil fuels is such a big industry is really because so much money is poured into it profitably. In order for green energy to obtain the exact same amount of investment, it needs to offer the exact same amount of profitability.
Khosla views getting green energy compared to that level as a matter of stepping up to the dish and doing as numerous ambitious experiments as you possibly can.
The assumption is that nine out of ten experiments will fail and only one will be successful. Nevertheless the one which succeeds can have a huge effect on our planet.
==> What Can You Really Do?
It’s likely that, you are not a banker or scientist that is actively involved in the green power industry. How can you personally help progress our future?
You can find a few actions you can take.
The very first is to have taking part in regional politics to get more green energy subsidies. Yes, it is real that energy subsidies aren’t a scalable way to grow green energy.
Nonetheless, the more money the green energy earns in general, the greater cash they will have to experiment with. Subsidies may possibly not be scalable, however they’ll help companies get by themselves to scalability.
Another thing you certainly can do is to vote along with your wallet. Buy energy-saving bulbs, spend money on house solar power panels and get a hybrid car rather than a gas guzzler.
Getting our planet to a green future doesn’t happen instantaneously. It’ll just take major breakthroughs, nonetheless it’ll additionally take a collective work on all of our parts.