Future of the Earth with Renewable Energy
Sixteen-year-old Swedish environmental activist, Greta Thunberg, during 2019 World Economic Forum in Davos urged leaders to act on climate change: “Our house is on fire…”. It is an alarm signal and time for action. Individual actions make a difference. Transforming the present energy system can lead to a higher quality of life, contribute to a low-carbon economy and avoid irreparable damage to our planet. The Future of the next generations lies in our hands.
Each of us has its own responsibility: to adjust how we live and to stop baking the biosphere and climate change. Our choices will determine whether the future is ‘merely grim, rather than apocalyptic’ as Wallace-Wells writes, and the facts from the report of World Health Organisation only confirm this statement:
7 million deaths will be caused by air pollution
Around $2-4 bn costs by 2030 will due to climate changes (the direct damage costs to health)
Between 2030 and 2050 climate change is expected to cause 250 000 additional deaths per year (due to malaria, malnutrition, diarrhoea and heat stress)
Is there a possible solution that could combat the sad statistics? Yes, it’s achievable with renewable energy sources. The convincing numbers below confirm the perspectives and necessity of investments in clean energy:
During the recent decade the total amount of investments in renewable energy has almost doubled. These numbers are mainly driven by technological innovation, depleted fossil fuels, cost efficiencies, and increasing consumer demand – resulting renewables to be preferred energy sources.
Let’s explore the perspectives and advantages that are driving transformation to a renewables-based energy system in particular segments.
The sun offers an ideal energy source, unlimited in supply, inexpensive, which does not add to the earth’s total heat burden and does not produce air and water pollutants. Solar installations in recent years have also largely begun to expand into residential areas with government offering incentive programs to make “green” energy a more economically viable option.
Among the positive effects of solar energy is the need of human resource to install solar panels and technicians for maintenance, meaning job creation. Additionally, the widespread use of solar power would result in fewer cases of pollution-related illnesses resulting in fewer lost workdays and lower healthcare costs.
Biomass refers to biological material derived from living organisms such as wood and waste. As long as plants are going to be on this planet, biomass will be available as renewable energy source. The positive outcomes of using biomass energy involve that government spending less money on purchase of foreign oil and reducing landfill disposal.
Recently the utilization of biomass for power generation has become more prevalent globally. Biomass, like fossil fuels, can provide cooking and heating energy, electricity, chemicals and liquid fuels. Most of the biomass use occurs in rural areas of developing countries where half the world's population lives. Traditional biomass use as fuel is the strongest in Africa, where the extraction of wood from forests and savannas is seen more for fuel than for timber. Fifteen out of the 20 countries listed as heavy users of biomass are in Africa. Two Central American countries, Haiti (81%) and Guatemala (62.8%), and three Asian countries, Nepal (80.6%), Cambodia (66.9%) and Myanmar (65.3%), also depend heavily on biomass. [Source: Worldatlas]
Hydropower is one of the world’s largest sources of clean, renewable electricity. Many countries could potentially take advantage of their natural landscape to produce sustainable energy.
China is the world’s largest producer of hydroelectricity – and for a country that is also the largest emitter of carbon dioxide, hydropower is an important source of clean energy to help combat the pollution of many cities.
Wind turbines can be built on existing farms, which greatly benefits the economy in rural areas, where most of the best wind sites are found. Wind power plant owners make rent payments to the farmer for the use of the land, providing landowners with additional income.
As governments strengthen their efforts to slow the pace of climate change, they may follow the lead of Denmark and Germany in turning to wind power. Although it now generates less than 1 percent of the world's electricity, the steady technological advance of wind power suggests that it could become an important energy source for many nations within the next decades.
Investors are increasingly looking to shift their capital flows towards sustainable projects and assets. Investing in renewable energy is much more than just a matter of financial return as it acknowledges social responsibility as well.
If case of doubts the best option with respect to investing in renewable energy, is to hire a financial advisor who will identify the best investment opportunities. By using a Renewable Energy Fund, the investor can pool his funds with other investors. The financial advisor will then manage the pooled funds and allocate across various Renewable Energy Investments.
Nowadays, the importance of social responsibility cannot be overestimated, and a lot of companies have started to join sustainable investment projects. We at BAO care about environmental and social wellbeing. We aim to make a positive and sustainable difference in communities in which BAO operates and invests. Our general commitment to Corporate Social Responsibility is inlayed in each of our investment decisions, by transforming our present energy system leading to a higher quality of life, contributing to a low-carbon economy and avoiding irreparable damage to our planet.