We all know that supplies of fossil fuels are dwindling all over the planet. The price of meeting this energy demand is estimated to be $20 trillion U. S. dollars two, three. Consequently, considering that so considerably funds desires to be spent on the investment in energy infrastructure in the upcoming years, this enables an opportunity for replacing the fossil fuel infrastructure with a renewable energy infrastructure.
Although the demand for oil is increasing, the world’s oil production peaked in 2005 1. In 2006, countries that had a substantial percentage of their energy from renewable energy was Canada (16%), followed by France (six%), Italy (6.5%), Germany (five.6%), United States (four.eight%), and the United Kingdom (1.7%) 8. The international neighborhood has reached a point exactly where future power demands will need to be balanced with future economic and environmental requirements.
Along with Obama’s strategy to reduce greenhouse gas emissions, comes a high price tag for the U.S. Obama’s assistant for energy and climate adjust, Carol Browner, stated on Wednesday that under a Congressional Budget Workplace study, there would be more than a $173-a-year estimated expense to the typical household by 2020 if Obama’s promise of cutting 17 percent of greenhouse gas emissions was passed by Congress.
There is considerable proof that the growth in the electrical energy demand can be decreased by means of the use of generating appliances and devices that are much more power-efficient, implementing developing codes, monetary incentives and helping men and women to voluntarily decrease power use.…Read more