Why Green Energy is the Best Investment for Energy
Non-renewable energy will eventually run out - it is inevitable. So why not, as a smart business and financial decision, invest in renewable energy and dominate the market early?
However, we cannot just blindly move towards an energy solution or any solution in general - proper evaluation and careful consideration not only needs to be made for the placement and investment in such energies but also for the workers in the non-renewable sector, which for some economies are the backbone of not only economic growth but of GNI and GDP. These workers, unfortunately, are often overlooked and invalidly condemned as people fight for a cleaner, greener future. These people have families and people that they need to take care of too. We cannot just condemn them to figure this out for themselves especially since a large portion have not only been working in the sector their whole lives but are also FIFO workers. There is a simple solution to this: either re-skill them or provide federal incentive or redundancy, enough for them to transition to another sector or to the new energy production companies. We must still, however, make sure that we are continuously moving in the direction of a cleaner, greener and more sustainable way of utilising our environment and natural resources.
The essence of modern capitalist economic theory is this: do the most that you can with the least amount of resources. In essence, being as efficient and productive as possible. This means that we need to be selective about almost everything in our economy and society. If it is more profitable or beneficial to do one thing over another we should choose the that of which is more efficient. That has been the argument to keep fossil fuels and non-renewable resources as a dominant factor of the economy - that they are a more efficient use of our limited resources and energy. To some extent this is true. Currently renewable energy in almost every economy, is more expensive than coal or other non-renewable resources and usually require federal subsidies to be able to be profitable. There are also limitations to their use.
For example, solar power currently can only be used in areas with large amounts of sunlight to be efficient and to be able to sustain a population. On top of this, they need to be placed in an area that does not have very volatile weather as this can damage the photovoltaic cells that are used. Wind energy has a similar situation - they need to be placed in areas with large amounts of continuous wind draughts. They are also relatively loud and hence cannot be near civilian populations as they could disturb and annoy people.
Despite this, I still argue the need for sensible progress towards renewable energy to be made for 1 simple fact alone: we will run out eventually, so why not invest now and reap the rewards later? As non-renewable resources run out, the law of supply suggests that they will become more expensive and eventually, weather or not green energy gets cheaper, will be more expensive than green energy. This is an economic fact that cannot be argued.
On top of this, the benefits are enormously weighted for green energy solutions. Not only will the air be cleaner and hence the population will be healthier and more productive in the long term but also there are macro-economic impacts that are related to environmental investment. All these cleaner energy sources require operators and in their initial stage and growth, there is required construction workers, designers, deployment agencies, electricians, planners and more - all of which lead to one thing: job growth. This is something that is needed more than ever before as the global economy stagnates in its growth rate and many economies that specialised in natural resources and minerals (such as Australia) need to diversify or find another specialisation.
If the energy source that we are currently using is inevitably going to run out, I find it rather strange that current companies don't take the step and invest in renewable resources. There is one thing that will be certain for years to come and that is the reliance of the global economy on energy to perform. If that is certain, why not control or take as much of the market share as possible, early onwards, as a smart business decision to improve revenues in the future? It seems like a simple solution to me that currently is not being invested enough heavily in.
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