Global Investment in Renewable Energy - Rules to Follow

Increasing the share of renewable energy sources in the total energy needs of earthlings is the way to the rational use of natural resources. This article will explain why investment in renewable energy by country is needed.

Renewable energy – a new way to save the planet

Demand for energy carriers and related services is growing to ensure social and economic development and improve human well-being and health. All societies need energy supplies to meet basic human needs and to maintain production processes. From about 1850, the global use of fossil fuels (coal, oil, and gas) increased to dominate the energy supply, resulting in skyrocketing carbon dioxide emissions. The survival and development of humanity require a transition to a new development paradigm that will not expose future generations to significant environmental risks. The concept of the green economy, which has been formed in recent decades, aims to harmonize economic and environmental issues more harmoniously. The energy sector is considered one of the most important on the way to forming a new economic model. There are many options for reducing emissions from the energy system while meeting the global demand for energy supply. With great potential for climate change mitigation, renewable energy can also deliver broader benefits.

Renewable energy is based on various natural resources, making it possible to conserve non-renewable sources and use them in other sectors of the economy, as well as to preserve environmentally friendly energy for future generations. In addition, the independence of such resources from fuel ensures the country’s energy security and electricity prices’ stability.

Renewable energy sources include:

  • Water energy (river flow, waves, tides)
  • Geo- and hydrothermal vents
  • Sunlight
  • Wind
  • Biomass gas
  • Fuel from recycled plant residues, alcohols, oils
  • Methane after degassing of coal mines.

Unlike fossil fuels such as oil, natural gas, coal, and uranium ore, these energy sources do not deplete.

How do businesses create a positive image by investing in renewable energy?

Many have heard about “green” energy, and many states understand the importance of changing the current energy situation in favor of renewable energy sources. That is why the key task for moving to the next stage is strengthening its competitiveness in terms of economic costs.

Companies worldwide are also creating strategies and defining green goals they want to achieve within a certain time. There was an awareness: we must act responsibly and set an environmentally friendly example for consumers. Of course, using renewable energy can help create a positive image for companies and reduce energy costs. Thus, the new Facebook servers and General Motors will receive energy from a solar power plant. It is being built in Kentucky as part of the large-scale Green Invest program.

IKEA aims to produce more electricity from renewable sources than it consumes by 2030. There are 920,000 solar panels in stores in 14 countries and more than 530 wind turbines. Ingka, the parent company of IKEA, invested about $2.8 billion in various renewable energy projects and became the owner of 1.7 GW of capacity. It will also continue to invest in the construction of wind farms and solar power plants. Chemical concern BASF will gradually switch to renewable energy sources and invest in wind farms.

However, despite the progress shown in recent years in environmental care, it is clear that the pace of change is too slow for our planet. And this, in turn, points to the need for consistent and persistent efforts to improve energy efficiency and switch to renewable energy sources.