Renewables; environmental, social, and financial impact

Description
Renewable energy will emerge as the primary driver of global energy demand in the coming decades. Projections from the International Energy Agency (IEA) suggest a remarkable growth trajectory, with renewable energy demand forecasted to soar by an average annual rate

Renewable energy will emerge as the primary driver of global energy demand in the coming decades. Projections from the International Energy Agency (IEA) suggest a remarkable growth trajectory, with renewable energy demand forecasted to soar by an average annual rate of 7.3% from 2007 to 2030 (Sadorsky). In stark contrast, conventional energy sources like coal and oil not only pose significant environmental hazards but also endanger human health and impede economic progress. With mounting concerns over the environmental impact of fossil fuels, there's a palpable shift towards renewable energy sources. While traditional energy sources theoretically offer an abundance of energy, the promise of renewables is undeniable. Notably, the cost of solar and wind power systems has witnessed a substantial decline over the past three decades and continues to plummet. In contrast, the prices of oil and gas remain volatile. This trend underscores the increasing feasibility of transitioning to renewable-based energy systems, marking a pivotal moment in our energy landscape.
Date Created
2024-05
Agent

A Global Climate Crisis: Why is Arizona Behind The Renewable Energy Curve?

130966-Thumbnail Image.png
Description
Greenhouse gas emissions (GHG) continue to contribute heavily to global warming. It is estimated that the international community has only until 2050 to eliminate total carbon emissions or risk irreversible climate change. Arizona, despite its vast solar energy resources, is

Greenhouse gas emissions (GHG) continue to contribute heavily to global warming. It is estimated that the international community has only until 2050 to eliminate total carbon emissions or risk irreversible climate change. Arizona, despite its vast solar energy resources, is particularly behind in the global transition to carbon-free energy. This paper looks to explore issues that may be preventing Arizona from an efficient transition to carbon-free generation technologies. Identifiable factors include outdated state energy generation standards, lack of oversight and accountability of Arizona’s electricity industry regulatory body, and the ability for regulated utilities to take advantage of “dark money” campaign contributions. Various recommendations for mitigating the factors preventing Arizona from a carbon-free future are presented. Possibilities such as modernizing state energy generation standards, increasing oversight and accountability of Arizona’s electricity industry regulatory body, and potential market restructuring which would do away with the traditional regulated utility framework are explored. The goal is to inform readers of the issues plaguing the Arizona energy industry and recommend potential solutions moving forward.
Date Created
2020-12
Agent