Renewable Energy Investment: Not Looking Too Sustainable
Many see renewable energy as the best way to simultaneously save our environment and economy, but recent changes in investments in renewable energy make that prospect look less likely.
Investment in renewable energy has been much lower so far this year — lower than at any time since the bottom of the 2008 market crash that kicked off this ongoing recession, according to a report from Bloomberg New Energy Finance.
The recession itself is one of the causes of the drop, as are the initiatives set up to help end and mend the recession.
One of the biggest causes of the drop was the uncertainty brought by the U.S. government’s gridlock over many budget issues, but primarily the wind energy production tax credit. Many wind energy producers saw what they thought was the looming death of the federal tax subsidy, which makes their job more financially sustainable, or possible, so they rushed to get as many wind farms and wind turbines erected as they could, or at least projects approved, before the deal ended at the end of 2012.
Congress made a last-minute deal on New Year’s Eve that saved the tax credit, but the rush had already happened, leaving little to be done this year.
The wind energy production tax credit was established to be more long-term, but numerous post-crash stimulus programs, set up to hold up and grow industries vital to the future, are now expiring as scheduled, making renewable energy investment less attractive.
Across the Atlantic, Europe has been the traditional capital of renewable energy across the globe, but with wild uncertainty and instability in the E.U., and several countries requiring massive bailouts and pursuing hefty austerity cuts, the programs that lifted the continent to its place at the top are not as strong.
With conservative government leaders across Europe arguing for reduced spending and less government, the subsidies and tax credits that helped the same European countries dominate the manufacture and use of renewable energy technologies are some of the first to go.
In Asia, where many analysts see the greatest potential for growth in renewable energy, growth across the entire economy has been slower than expected.
And while the world economy will eventually convert entirely from fossil fuels to unlimited renewable energy, Bloomberg New Energy Finance Chief Executive Michael Liebreich feels it might not be enough to ease environmental concerns.
“For investment in clean energy to play its role in stemming the growth in world emissions, we would need to see investment levels at least double by 2020, rather than fall,” Liebreich said.
Bill Gates Names 3 Careers He'd Drop Out For Today
Famous Harvard dropout and current billionaire Bill Gates would like to pursue a career in the field of artificial intelligence, energy sector, or biotechnology.
Algae Biofuel: Finding Algae Species For Making Renewable Energy
Algae might be the future of renewable energy! With the booming industry of algae biofuel, researchers try to find more productive algae species to make biofuel.
Renewable Energy Soon To Replace Dwindling Fossil Fuels
When are we going to decide and realize fossil fuels might have their end? There are lots of barriers to this realization and conclusion for change.
Electricity From Saltwater: How To Use Sea Waves
Wave power electricity in combination with other clean energy sources may provide sustainable renewable energy for the whole world in the future.
Solar Energy Overtaking Coal As Primary Source Of Energy Among Countries
Hundreds of countries are working together to curb the rising level of greenhouse gas emissions in our atmosphere that’s worsening global warming. One of the major solutions for this problem is employing renewable energy rather than coal, and recent reports are coming in that solar energy is overtaking coal as the major go-to resource in power production among countries.
Iceland To Harness Energy By Drilling Deep Enough To Tap Molten Magma
In the world of renewable energy, the geothermal power source isn’t as well known when compared to wind and solar. Iceland means to change that is it’s planning to harness energy way below the Earth’s surface into the planet’s tectonic plate boundary.
MORE IN ITECHPOST
iOS 11 Plagued with Untested Bugs and Early Adoption Pitfalls
Reports of nagging iOS 11 issues have started pouring in just a day after the software was released by Apple on supported devices.
'Tokyo Ghoul' Season 3 Delayed By Its Live-Action Movie? Ken Kenaki Returns With Another Identity?
"Tokyo Ghoul" season 3's release is delayed and there are countless speculations as to why it is being pushed back. Reports claim that the show is to give way to "One Punch Man" and "My Hero Acdemia" but new rumors say that it's lack of materials and storyline as well as its live-action movie are causing the delay.
‘Resident Evil 7: Not A Hero DLC’ First Gameplay Trailer Leaks Online
First gameplay trailer pertaining to RE7: Not A Hero DLC has just leaked on YouTube.