Renewable energy refers to energy that is obtained from natural resources that are replenishable – something that will not run out such as the sun, water and so on. It is also known as “alternative energy” which refers to using energy from sources other than the widely used non-sustainable sources such as fossil fuel or coal. Over the years renewable or alternative energy has gained a lot of popularity due to being cleaner, healthier, and diverse applications. In this article, we delve into everything you need to know about renewable energy sources and how your contribution can help create a cleaner future.
Types of renewable energy
The most widely used renewable energy sources include:
Sun – solar energy
Water – hydroelectric power
Wind – wind power
Hot springs -geothermal energy
Tides – tidal power and
Biomass -biofuels
Evolution of renewable energy
In the early years of the 21st century, about 80% of the world’s energy source was from fossil fuels such as coal, petroleum, and natural gas. These fossil fuels are finite resources – that is at some point, they will run out.
In addition, the combustion of fossil fuel has a number of harmful environmental and health impacts as well. For instance, most fossil-fuel driven plants discharge air pollutants such as sulphur dioxide, nitrogen oxide, and poisonous chemicals like heavy metals including mercury, lead and arsenic, while vehicles powered by fossil fuels release nitrogen oxide, carbon monoxide, and particulate matter. Exposure to these pollutants can cause several short term and long term health problems including allergies, headache, heart diseases, asthma, and skin cancer, besides others. Moreover, the combustion of fossil fuels releases carbon dioxide (CO2), which is one of the main greenhouse gases that is responsible for global warming and climate change.
However, before the development of one of the most widely used fossil fuels – which is coal in the mid-19th century, almost all energy used was from renewable sources including using traditional biomass to ignite fires or using wind power for sailing ships across water. Although after the discovery of fossil fuels, use of renewable energy slowed down by the 21st century, it still accounted for nearly 20 percent of worldwide energy usage. In fact by the first quarter of 2020, nearly 28% percent of the world’s electricity was generated from renewable sources.
The challenges of renewable energy
Despite the wide range of applications of renewable energy, until recently the main obstacle for the growth of this sector has been its costly price tag. Although their maintenance costs are minimal, it is the installation cost that acts as the major barrier.
Another challenge is the infrastructure and power transmission as most infrastructures were built with large fossil fuel plants in mind. In addition, existing local power distributors also act as barriers to entry since they are well established as well as have enormous market power.
However, thanks to advancements in technology, the costs of renewable energy sources have reduced significantly. For instance, solar panel technology price reduced 82% by 2019 and the upfront costs are only projected to go down with further progression. In addition, with the whole world geared towards achieving net zero emission and minimizing carbon footprint, governments all over the world, including the government of Canada offers grants and incentives to corporations and businesses for investing in clean energy while energy companies like A-TECH Engineering Ltd. provides investment opportunity in energy solutions with zero upfront cost.
Is renewable energy the way to go?
Renewable energy has never been a more important or widely discussed topic than it is nowadays. From powerful governments to big corporations to progressive business owners, everyone is waking up to the need for a greener world with clean energy which points solely to the renewable energy source.
Two of the most recent popular renewable energy sources happen to be the solar and wind energy source and they are increasingly being used for producing energy for both local areas as well as national power generation.
These alternative energy sources have a lot more to offer than just producing clean or net zero emissions such as helping in boosting local economies. For example, use of solar power offers lots of benefits with easy installation, low maintenance cost, lower electricity bills, and so on while projects driven by wind energy provide potentials in the form of increased employment opportunities and local funding. Renewable energy is projected to account for about 30 percent of the world’s energy by 2024, forecasted by the International Energy Agency, and most of this will be driven by solar, hydroelectric, and wind projects.
Although there is a long way to go before mankind has completely stopped relying on fossil fuels for energy usage, the increased popularity and versatile applications of renewable energy sources make them worth considering if your organization has clean energy and sustainable goals. A-TECH Engineering Ltd. is a leading energy company based in Toronto which offers advanced energy solutions including solar power, cogeneration besides others. Connect with us and find out how we can help your business become more environment-friendly and energy saving.
With traditional energy sources becoming increasingly costlier, the scope of alternative energy is rapidly becoming the object of attention for several progressive business owners looking for sustainable, cleaner, and reliable energy solutions. Using renewable energy not only provides businesses and organizations with monetary benefits but also provides long lasting positive impact on the environment. In this article we take a look at what renewable energy entails and how businesses can leverage it.
WHAT IS RENEWABLE ENERGY?
Renewable energy refers to energy that is harvested from natural resources, which are inexhaustible in nature and can be easily replenished. This comprises carbon neutral sources like solar, wind, water, tides, geothermal heat as well as photovoltaic and biomass resources.
On the other hand, non-renewable energy resources which include fossil fuels such as oil, coal, natural gas, and others are consumed at a much faster rate than they are replenished. Because of the finite nature of non-renewable resources, renewable or alternative energy has been gaining a lot of momentum in many industries in order to fill in the energy gap created as these non-renewable resources get exhausted.
APPLICATIONS
Renewable energy is used to provide energy in four important areas including electricity generation, air and water heating or cooling, off-grid energy generation and transportation. It offers comparatively safer, cleaner, cheaper, and efficient energy than non-renewable energy as well as plays a critical role in replenishing non-renewable energy sources as well as mitigates the risks of climate change resulting from use of fossil fuels.
With the demand for efficient and reliable energy as well reduced environmental impact, alternative or renewable energy promises to be part of any sustainable energy management system for a business.
Here are some of the ways your business can leverage renewable energy.
- Environmental benefits: Renewable energy provides a clean source of energy compared to conventional energy generation sources. For example, a recent study revealed 29 percent of global warming emissions in the US results from the electricity sector from burning fossil fuels like oil, coal, and natural gas. However, most renewable energy sources generate little to no global warming emissions at all. In addition, by reducing carbon footprint, it also helps to improve overall air quality and public health. Due to air pollution and poor air quality, people all over the world suffer from serious health issues including respiratory diseases, neurological disorder, cardiovascular diseases, cancer, premature death, and a host of other health risks.
- Reliable energy: Most of the time non-renewable energy generated has to be distributed from source to usage area. During this process, a majority of the energy is wasted and there are also power disturbances. On the other hand, renewable energy is produced locally. As a result, it saves energy, prevents wastage, and mitigates the risk of power outage or fluctuation problems, thus benefiting your business.
- Cost-effective – Many traditional business owners tend to think renewable energy is costly and not at all financially feasible for their business model. However, in reality this form of energy is economically viable as it provides a safety net against increasing cost of electricity which is a major overhead cost for many businesses. For example, a study reveals that commercial property owners can reduce their electricity bill by 75 percent by simply installing solar panels.
- Get incentivized – Many governments all over the world including Canada, in order to mitigate climate change, have introduced several energy programs that provide significant incentives, tax rebates and grants for participating in clean energy programs and helping the world to be a safer and cleaner place. Your organization can benefit financially from this too. For Canadian organizations, you can find more resources here.
- Goodwill and brand recognition – Not only organizations and people working in the environment sector, but common people as well are becoming aware of the effects of climate change and the need to participate in cleaner, environment-friendly energy generation and consumption. As a business that employs sustainable business practices including using alternative energy sources, you can benefit from the goodwill of mass people and reinforcement of a positive brand image, which will reflect in increased sales and ROI.
- Employee loyalty– Studies have also shown that 64 percent people will not take up a job in a company that does not participate in corporate social responsibilities. As a result, by investing in alternative energy solutions, you will also be able to recruit and retain a team of talented employees that are loyal to your organization.
- Employment opportunities – The renewable energy sector is labor intensive and by investing in it, your organization will be creating more job opportunities in the market and contributing to overall socio-economic development.
Investing in renewable energy solutions can help your businesses beyond just significantly reducing energy bills and improving efficiency. Conventional energy solutions are increasingly becoming more costlier and disruptive day by day and the trend is likely to continue. Switching to alternative energy solutions will not only help your business alone but also have a positive impact for the future generation. A-TECH Engineering – a leading energy company based in Toronto provides innovative energy solutions including CHP, solar energy and more to help your business become sustainable while saving energy and reducing carbon footprint. Connect with us to learn more today.
