Compare renewable and nonrenewable resources

Renewable energy can be profitable, that’s the short answer. It was found that Imperial College London and International Energy Agency discovered that investments in renewable energy have substantially higher returns than those generated by petroleum-based fuels found in Europe and the [location] as well as the]. They evaluated the returns of energy investments over a five and ten year period. They also compared renewable energy investments in France, Germany and France over five years. The average return on investment was 178.2%. The same time period saw an increase of nearly 20.7 percent in investments for fossil fuels.

However there was some return on investments in fossil fuels in the [location]. In the [location], fossil fuels returned 8.8 percent during a five-year time period. and 97.2 percent for the location. Take into consideration the power generation capacity. It is evident that green power investment yields greater returns. The payback period for renewable power in the United Kingdom was 76 percent however it was close to 200 percent in America. In many cases renewable energy is more affordable and offer a higher rate of return than oil and coal. This allows private companies as well as governments to invest in massive green energy initiatives.

Is there a future in renewable energy?

It is difficult to imagine a world without renewable energy sources. In recent years renewable energy has experienced an increase in its popularity. This increase in renewable energy use will continue to increase as prices decrease as more private businesses and governments become cognizant of their potential return on investments. Today, the world gets only 26% of its electricity from renewable sources. In 2024, that number will be higher than 30 percent. There was an increase of 45% in the world’s renewable energy capacity in the year 2020. The growing use of solar and wind power will make up large proportions of the 2020 increase and the projected 2024 increase. These two main statistics will play a major impact on the growth of renewable energy usage by 2024: The first is that solar power will experience an ongoing decrease in costs. The cost for large-scale solar power projects in the coming years will drop by 35 percent. In 2024, wind energy production capacity is expected to rise by nearly 56.5%. [location] , the [location], and a portion of the [location] Over the coming years, member nations are expected to expand their renewable power capabilities and double off on wind power. These are positive signs that now the world is moving towards renewable energy and that alternative sources of energy will continue to play a a significant role in the future.

Which is the best resource either renewable or not?

In a perfect world, everyone would be using renewable energy sources every day. We would not utilize any resources that emit CO2 or methane into the environment. Instead, we would make use of clean, affordable, and reasonable priced sources for everyone.

Although fossil fuels can be stored quickly and are reliable, they are rapidly exhausting. They are a source of pollution, they cause changes in the climate and are hazardous to produce.

While they’re less stable (solar power can only be employed when the sun shines), renewable energy is immediately available. Renewable energy doesn’t require thousands of years to grow and is accessible. It doesn’t require to be transported via land or sea. Energy sources that are renewable and sustainable is better for our planet. A greater reliance on solar and wind power will enhance the quality of air in the world.

Renewable energy is more than a responsible choice. It also provides clean air to people within rural regions, cut down on workplace deaths, create jobs locally, and also stop making a difference to climate change. It’s time to take action to ensure your future.