The Role Of Renewable Energy In Sustainable Capitalism
Traditional capitalism seeks maximum profit, even after facing harsh conditions. This idea of capitalism gives birth to issues related to sustainability. This is why climate change demands a new approach to increase profit from activities and maintain the climate.
While the discussion continues about saving the planet and earning capital, renewable energy emerges as a powerful driver. This energy-saving strategy has major benefits that can ultimately help your business grow at a major high. Moreover, this is a pathway for better sustainable capitalism.
Ask yourself: What do you know about renewable energy? In this article, I will explain what renewable energy is and how to save it or utilize it wisely. Let’s delve into understanding what renewable energy is and its practices to achieve sustainable capitalism in the future.
What Is Renewable Energy- Definition
Whenever we hear sustainability, the first thing that pops up in my mind is saving energy. Renewable energy is one of the many strategies that can be considered, but first, how do you define this term?
The term renewable energy mainly refers to power derived from natural resources. In simple terms, this can be generated from natural resources, and the most important part is that the energy sources are refillable. Sunlight and wind are prime examples of this energy.
Now, what is wrong with using fossil fuels? The answer is the time it takes for replenishment. There is an end to generating fossil fuel, as their reign will end soon. In addition, fossil fuels take up billions of years to form. So, the human race cannot just sit tight and wait until it takes its form to produce fuel.
This is where the clear energy comes in as a savior. With impeccable replenishment power, it helps humankind with all the energy sources they need to live a decent life. Renewable energy replenishes at a much higher rate than you can consume in a day.
In establishing sustainable capitalism, businesses focus on restoring and building rather than just destroying and exploiting. As a result, it helps with the benefit of a clean economy and saving more through wise and meaningful investments.
Importance Of Renewable Energy
Fossil fuels take millions of years to regenerate and produce massive amounts of harmful chemicals in the atmosphere.
The greenhouse gas is one of the prime examples of such damaging impacts. These disadvantageous impacts lead to global warming, health issues, and even the extinction of several species.
Renewable energy, on the other hand, generates emissions lower than fossil fuels and helps you pollute less daily.
It is your alternative solution and the most potential energy resource available to you. You can easily fight against climate change, and there are a few reasons why it is a possible alternative to using energy.
As World Economic Growth identifies, renewable energy and natural sources such as wind and sun are key strategies to combat the greenhouse effect.
Traditional fuel resources, such as coal or petroleum, contribute to harmful pollution, leading to global warming. But renewable energies can be a staple solution to these issues.
However, NRDC recognized that only some things can be considered renewable energy. Biomass or large hydroelectric dams can create issues for wildlife. So, you can use wind and sunlight as less impactful renewable energies.
Related Resource: How to Future Proof Your Business With Renewable Energy
Common Sources Of Renewable Energy
As I have already discussed, generating renewable energy is a win-win solution for you to avoid creating carbon emissions than what burning fossil fuel generates. Thus, transitioning from fossil fuel to renewable energy benefits your daily life.
Here are two sources that find potential enough to address climate change and save the planet.
⚡Wind Energy
Humankind has made two most powerful achievements: discovering fire and harnessing the wind. Before wind turbines came into action, wind produced electricity by converting the natural energy of air into motion.
However, the invention of wind turbines and rotating blades made converting kinetic energy into rotational energy easier.
Over time, wind turbines’ capacity has scaled up. Even though air speed might vary between locations, the energy and electricity produced are higher than what is being generated globally. The ample sources are capable of providing enough electricity support to most regions.
⚡Solar Energy
Solar energy is the most resourceful resource, and it is replenishable; there is no doubt about it. Now, I know you are wondering what it will be like during cloudy days.
The solar energy still works; it doesn’t matter if it is overcast outside. The only drawback is that it might generate less power, which also depends on the panels you are using.
The overall rate of solar energy that the Earth intercepts is almost 10000 times higher than what humankind can consume daily, so what you and I are using is nothing compared to that.
The technologies used in solar panels can deliver heat, fuel, and electricity. Compared to what wind energy can provide, solar panels or PVs are one of the cheapest solutions to your new energy resources.
Benefits Of Renewable Energy
Renewable energies have major benefits, including how much maintenance they may require or whether they can help save capital. There are multiple reasons why you should prefer renewable energies over fossil-fueled energy sources.
The power of replenishing ability and accessibility is what renewable energy is all about. Renewable sources can be renewed on their own, allowing you to use them as much as you want. In addition, these energy sources are also accessible even in remote areas.
Renewable energies are an easy way to avoid carbon emissions. They do not require the use or burning of fossil fuels, so there is no scope for carbon emissions or pollution.
This energy ensures better reliability and security of the power grid. In many cases, clean energy sources such as solar or wind help prevent major disturbances to the power grid. The rapid recovery also adds more value to overall reliability.
Renewable energy can be beneficial for both job creation and saving money. The growth of using clean sources is increasing the demand for renewable energy experts, adding more jobs to the job market. On the other hand, the practice of using this energy helps to save money as well.
Renewable Energy In The United States
The US is currently working on utilizing the power of natural resources and contributing to saving the planet. In 2020, the US produced around 21% of electricity from renewable resources. For which the coal sector is facing a decline in energy generation.
They have made a more integrated approach to deploying large wind farms and rooftop solar panels.
Wind energy also holds the potential to contribute to sustainable economic development, and the US government and even private firms are focusing on utilizing renewable sources in best practices.
The latest reports state that the Biden-Harris administration has declared $13 billion in financial support for expanding renewable energy grid and power supply to meet the demand for clean electricity.
Nonrenewable Energy
While learning what is renewable energy, you may also need a clear idea about non-renewable energy, mostly known as dirty energy.
In contrast, this energy is all about non-renewable energy produced from non-renewable sources. These sources have existed on this earth for a long time, and some may even have existed before civilization.
Oil, gas, and coal are non-renewable energy sources that will eventually run out. Fossil fuels are inexpensive to extract and use. However, they are not replenishable or may take a longer period to replenish.
Thus, it has become important for us to transition from non-renewable to renewable energies for a better and consistent power supply. It can also contribute to good economic building and reduce environmental impacts such as carbon emissions or global warming.
Role Of Renewable Energy In Environmental Conservation
Now that you know what renewable energy is, you can also understand its importance to the environment in reducing carbon emissions or less impacting the climate.
While harnessing the energy from renewable sources such as wind and solar, we can also work together to decrease the usage of fossil fuels such as coal and oil. This transition might allow you to preserve the natural resources and restore the ecosystem.
Renewable energies align intending to balance out the economic, social, and environmental factors. The energy sources can provide more affordable and reliable energy to humankind.
Lastly, the transition to this energy and sources from non-renewable ones can help to combat climate change and protect the entire ecosystem. Moreover, it will allow you to have little to almost no greenhouse gases in the environment.
Wrapping It Up!
In summary, renewable energy is important for us to embrace for a better planet and for sustainable development. It is important to safeguard the planet and make a better future.
Adopting green and clear sources, whether for a single-story house or a business operation, can secure the planet and opt for pocket-friendly energy resource options.
These sources are unlimited and eco-friendly, and they can offer you scope to manage a green economy as well.
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