The Transition to Renewable Energy

Who is Leading the International Clean Energy Race? The race for clean energy is already underway, but some countries are in vanguard while others remain heavily reliant on fossil fuels. Unfortunately, even the winners of the clean energy race fail to realize the full range of benefits that can accrue to renewable energy sources as long as other countries continue to rely on fossil fuels for their energy needs.

To determine the facts about what is happening today and likely outcomes for the future, this paper reviews the relevant literature to describe how developing countries can reach 100% renewable energy as well as some of the more severe challenges that are involved in providing clean energy in developing regions of the world. In addition, a discussion concerning whether the goal of achieving clean energy access for all humanity by 2030 is achievable or not is followed by an analysis of why China is currently winning the clean energy race.

An examination concerning what renewable energy source has the most promise and the social impact of future changes in the energy sector is followed by a discussion concerning how New York is building the renewable energy grid of the future today, how and what are corporate companies doing towards their race to become 100% renewable, the environmental impacts of renewable energy technologies and an assessment concerning whether 100% renewable energy is possible for every nation in the future.

Finally, a summary of the research and important findings concerning these issues are provided in the conclusion. Review, Discussion and Analysis 1. How can developing countries reach 100% renewables? Certainly, enormous investments from both the public and private sectors will be needed, but the overarching need requirement for achieving 100% renewable energy in any country is the political will to achieve this goal.

It is noteworthy that in 2015, investments in renewable energy sources were higher among the world’s less affluent nations than they were for the most affluent for the first time in history (The debate over renewable, 2016). Notwithstanding these increased investments, fully 20% of people in developing nations do not have access to electricity (The debate over renewable, 2016).

This basic lack of access to electricity, though, also means that developing nations now have the opportunity to invest in renewable energy resources rather than conventional fossil fuel energy plants thereby facilitating the process. In reality, though, achieving 100% renewable in developing countries will require incremental changes that may require a century or more to fully realize for the reasons discussed below. 2.

What are some of the challenges those providing clean energy in developing regions face? One of the most serious challenges involved in the provision of clean energy in developing regions of the world is a profound lack of infrastructure and electric grid (Poczter, 2017). This lack translates into reduced national productivity which adversely affects their ability to invest in cleaner energy resources.

In this regard, Poczter (2017) emphasizes that, “Firms may have difficulty connecting to the power grid, or when they do, face shortages or fluctuations in voltage and frequency that make accessing electricity unreliable” (p. 579). 3. Is the goal of clean energy access for all by 2030 is achievable? A study by the International Energy Agency of 140 developing nations determined that universal energy access is achievable by 2030 (Profeta, 2017).

While the goal may be achievable, however, does not mean it will be achieved unless additional annual investments of $52 billion are made, a rate that is more than double the current investment levels (Profeta, 2017). 4. Why China is winning the clean energy race. Notwithstanding its air pollution and continuing reliance on fossil fuels, most especially coal, China’s leadership is winning the clear energy race because they have to.

With a population of 1.4 billion people and a land mass that extends across Asia, China has a Herculean task in providing electricity to all of its citizens (Harder, 2018). In response to this challenge, China has taken a number of steps to integrate renewable energy resources into its grid and has deployed the most electric cars in the world as shown in Figure 1 below. Figure 1.

Share of global deployment of electric vehicles Source: https://graphics.axios.com/2017-10-10-global-energy-sales/images/2017-10-10-global-energy-sales-desktop.png In addition, China leads the world in solar panel manufacturing, accounting for fully 60% of the world’s production. Likewise, China is planning a series of advanced nuclear reactors that will further reduce its fossil fuel demand (Harder, 2018). 5. What renewable energy source has the most promise? Solar energy is frequently cited as the renewable with the most promise for the future – and for good reason.

For example, Profeta (2017) reports that, “Universal energy access is possible by 2030 and that solar technology will be the linchpin of the effort” (para. 3). While solar panel technologies still require improvements, virtually every nation in the world has access to solar power. Indeed, roof-mounted solar-powered water heaters are required by law in Israel (Katsioloudis & Bondi, 2009). 6.

What will be the social impact of future changes in the energy sector? On the one hand, citizens in developed nations will have to change their lifestyles to accommodate renewable energy sources in ways that they may not prefer. On the other hand, though, citizens in developing nations will need to adjust to their new access to electricity, and this process may also be constrained by social factors.

For instance, Poczter (2017) emphasizes that, “Adopting a new technology may initially be productivity reducing, as firms must first adapt their human capital, machinery, processes and even organizational structure to accommodate the new input” (p. 579). 7. How New York is building the renewable energy grid of the future? New York has been in the forefront of states in its investments in renewable energy and the results to date indicate that these initiatives are paying handsome dividends in terms of attracting innovative companies and reducing demand for electricity.

A report by Kaufman (2017) makes the point that New York has implemented programs that reward companies for investments in more energy efficient systems that reduce demand as well as reimbursements for investments in renewable energy resources such as wind turbines and solar panels. Moreover, New York has also hired renewable energy experts to identify additional opportunities for reducing demand for fossil fuels and integrating renewable energy into its electric grid (Kaufman, 2017).

Indeed, Kaufman (2017) emphasizes that, “The state is so gung-ho that its rules require utilities to come up with demonstration projects that test out a new business model, in partnership with at least one private sector company” (para. 4). In addition, New York is also investing in new technologies for smart grid management and energy storage which have created thousands of new jobs (Kaufman, 2017).

Although the state has not yet formally calculated how much money these initiatives will cost over the long term, initial assessments suggest that the state will earn an additional $5.6 to $8.7 billion in annual revenues by 2030. In fact, employment in the energy storage industry has already increased by 30% during the period from 2012 to 2015 (Kaufman, 2017). 8. How and what are corporate companies doing towards their race to become 100% renewable? Many corporate leaders are recognizing the benefits of energy efficiency and the need to reduce their carbon footprint.

In some cases, these initiatives are inexpensive and easy to implement yet achieve significant long-term results. For example, locating offices near public transportation, purchasing low-energy computers, installing low-flow toilets, and paper, glass and rubber recycling programs can have a significant impact on resource usage. Furthermore, although more expensive, growing numbers of companies are refurbishing old plants and making their buildings more energy efficient in order to be certified with the Leadership in Energy and Environmental Design rating awarded by the U.S. Green Building Council (Streeter, 2009).

These investments in becoming LEED certified at the various level (there are four levels: certified, silver, gold, platinum) have proven the value, and companies that achieve the LEED certification reap significant savings in operating costs (Streeter, 2009). 9. Environmental impacts of renewable energy technologies? One of the most frequently overlooked facts about renewable energy technologies concerns the fossil fuels that were consumed in developing them.

Indeed, even the most efficient electric cars require recharging with electricity that is typically produced by coal or other fossil fuels and some so-called “green” technologies such as ethanol derived from corn cost far more in terms of fossil fuel energy usage. These constraints, though, are slowly being addressed and there will be cumulative but gradual improvements in the long-term impacts of renewable energy technologies. 10.

Is 100% renewable energy possible for every nation? Some countries such as Iceland with its geothermal production capabilities and others with significant hydroelectric resources already have an abundance of renewable energy resources and it is.