Renewable Energy And The Green Economy

The renewable energy industry is on the verge of creating a worldwide economic boom. Venture capitalists around the world are poised to invest heavily which will create new jobs at a remarkable rate. In other words the green economy is the next big economic boom. Governments that recognize this trend are investing heavily in educating their young people to be ready for the new economy that will define their lives. Technology companies are wanting college graduates with expertise in the new tools, methods and techniques.

In the UK alone, fuel consumption is expected to increase in 2014 to 770 quadrillion thermal units. That is an astounding 50% increase over the 2012 figures. Global consumption of fossil fuels is increasing at an unbelievable rate. New oil platforms are being built in dangerous waters with the potential for economic and environmental disaster. As these sources are depleted, alternative fuels are a necessity. Globally, consumers are beginning to expect the fuel sources to be clean as well as affordable. Depletion of fossil fuels, changes in the environment, and improved technologies are driving the creation and expansion of the green economy.

Worldwide there are approximately 2.7 million people employed in all phases of the green economy. The green economy, as it is now being called, is labor intensive and is defining how people will live, work and play in the 21st century. Everything including construction, manufacture, distribution, sales, maintenance and every other aspect of human life is changing. Instead of burning coal for electricity, nature will manufacture the power we use via the solar panels and wind turbines. The use of renewable energy will raise the standard of living worldwide. The investment is necessary, and every country, rich or poor, will eventually have to embrace the new reality that renewable energy is the only power source available.

At the present time, renewable energy only accounts for 16% of the global use. Wind power is expected to increase another 20% by the end of 2014 and the installation of photovoltaic or solar technology will grow another 70% worldwide. Renewable energy will become more reliable as technology improves. Currently, a cloudy day can deplete solar energy, Because humans have always relied on the wind to sail the oceans, now wind turbines placed in the ocean provide electricity to millions of homes and businesses.

In 2010, Australia became the first nation to convert 100% to renewable fuel sources at an investment of $370 billion. The conversion took an entire decade but they expect to recover the investment in another 10 years. Many other countries are studying the Australian conversion as a guide to their own renewable energy resources.

Dirty fuel sources that deplete the environment are being replaced worldwide. Even the oil rich Middle East recognizes that they must embrace the new technology and become leaders in supplying renewable energy. Their massive desserts are a source of solar and wind power that can supply energy to nations without an abundance of natural energy. By the end of the 21st century renewable energy is expected to be used on a global scale and fossil fuels will be a distant memory.

By: SelJones

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