Often at times, numerous news would show incredible insights on reusable energy that would greatly benefit society. Various organizations provide tactful and decent research that supports their project and that it can greatly give advantage to most aspects. However, the world still seems to be stuck. People aren’t still in the next stage wherein they have to move forward to the future through various proposed advancements.
Looking at a view economically, Micheal Elroy, together with his colleagues, has concluded in their research paper about their insights of financial resources that cause an unsupported market of green projects.
According to their paper, a factor that causes the problem in the application of reusable energy is the lack of investments for production and promotion. Addressing a target income can address the dilemma. To endorse advocacy to society requires some financial support to accommodate the strategy of researchers and developers.
Hence, the power of the market corresponds to the revenue sufficiency for renewable energy. Although people are invested in different technology, there’s less payback coming from the wholesale market.
Even when there’s an ongoing debate of environmentalists and climate skeptics, it can’t be simply shrugged that the earth is constantly changing due to strong weathers and natural calamities. Also, the energy from fossil fuels is the primary cause of climate change.
Looking at its long-term benefits, a clean energy economy has its advantages in which renewables have fewer extremities and requirements. Unlike reusable energies, “fossil fuels are artificially low” for the reason they relocate costs linked to their production and consumption to the public. Furthermore, an economy like this would allow stable and sustainable development, unlike the existing energy system.
Renewable energy, however, has its limitations. What it provides are the long-term benefits that will change the old ways of using fossil fuels. The current energy system of the world, on the other hand, highlights the short-term revenues of the overall economic case. But in regards to all, through green technology will a successful economic and environmental residence is fruitfully accomplished.
The process of attaining the growth of clean technology is expected to undergo after a slow initial period. It’s a fact that almost everything that is made or built requires energy coming from fossil fuels, making the use of clean and reusable energy a major challenge. Hence, it’s essential to know that that renewable energy is only half the battle against change. A vital step towards achieving a genuinely sustainable society is to undertake a moral obligation to ensure a positive economic improvement that benefits all especially for the financially challenged members of the community.