Investing in Renewable Technologies: Wind, Solar, Geotherm, Hydro, Biomass

July 2, 2007 - PRLog -- Eventually renewable energies will dominate the world’s energy supply system. There is no real alternative. Mankind cannot indefinitely continue to base its life on the consumption of finite energy resources.

Today, the world’s energy supply is largely based on fossil fuels and nuclear power. These sources of energy will not last forever and have proven to be contributors to our environmental problems. The environmental impacts of energy use are not new but they are increasingly well known; they range from deforestation to local and global pollution. In less than three centuries since the industrial revolution, mankind has already burned roughly half of the fossil fuels that accumulated under the earth’s surface over hundreds of millions of years. Nuclear power is also based on a limited resource (uranium) and the use of nuclear power creates such incalculable risks that nuclear power plants cannot be insured.

Renewable sources of energy are an essential part of an overall strategy of sustainable development. They help reduce dependence of energy imports, thereby ensuring a sustainable supply. Furthermore renewable energy sources can help improve the competitiveness of industries over the long run and have a positive impact on regional development and employment. Renewable energy technologies are suitable for off-grid services, serving those in remote areas of the world without requiring expensive and complicated grid infrastructure.

In his 2007 State of the Union address, President George W. Bush outlined plans to ease the United States out of its foreign oil dependence through the use of renewable energy resources, and reduce gas usage by a full 20% in ten years through alternative fuels.

“Extending hope and opportunity depends on a stable supply of energy that keeps America's economy running and America's environment clean. For too long our nation has been dependent on foreign oil, and this dependence leaves us more vulnerable to hostile regimes and to terrorists who could cause huge disruptions of oil shipments and raise the price of oil, and do great harm to our economy. It's in our vital interest to diversify America's energy supply -- the way forward is through technology. We must continue changing the way America generates electric power by even greater use of clean coal technology, solar and wind energy, and clean, safe nuclear power. To reach this goal, we must increase the supply of alternative fuels by setting a mandatory fuel standards to require 35 billion gallons of renewable and alternative fuels in 2017 - and that is nearly five times the current target.”

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