All The Way To New Energy

Can We Overcome The Last Few Hurdles For Renewable Energy?

Charles Tower-Clark, October 4, 2019 (Forbes)

“…[New Energy] is quickly becoming a viable alternative to fossil fuels, and significant global adoption could help to mitigate the more drastic and immediate effects of climate change…[But it] is not as simple as installing renewable technologies and plugging them into the grid…Much of the grid in the U.S. is decades old, and is not prepared to handle large amounts of renewable energy…[Also, both New Energy and consumer demand are variable and do not necessarily match up…As a result, renewables are far more cost-effective when battery technology can be deployed…While recent advances in battery capacity and longevity (as well as battery chemistry itself) are encouraging, cost is always the most significant factor that limits the adoption of new technology—despite the drastic consequences of the lack of change…

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Globally, however, the fossil fuel industry receives around $370 billion in subsidies, compared to $100 billion for renewable energy…[and] there are signs that renewable energy may not need subsidizing for much longer…[Though fossil fuels are sewn into the fabric of the economy, fossil fuel subsidies could be directed toward easing the economic impacts of a transition. Greta Thunberg’s speech at the UN Climate Summit taught us] that inaction by world leaders on climate change will no longer be tolerated…[T]here will undoubtedly be tough times ahead for fossil fuel employment as the job market shifts to new jobs. But these costs and hardships are nothing compared to the costs of doing nothing…” click here for more

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