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Renewable energy is the form of energy sources that are continuous, natural and come in abundant supply. Renewable energy would include certain types of biofuels, geothermal energy, water energy, wind energy and solar energy. The major challenge of renewable energy is the immense requirement when it comes to the infrastructures that are needed for the extraction of this form of energy. For instance, substantial investment on highly expensive solar panels is needed before we can extract and harness a significant amount of solar energy. On the other hand, you will need to put up and operate large wind turbines to harvest wind energy and, of course, we need to construct large dams to collect and extract energy from the flowing water.
Experts believed that we have barely scratched the surface as far as renewable energy is concerned. The majority of countries today harness less than 10 percent of their power requirement from renewable energy sources. Of course, major economies are heavily dependent on fossil fuels, and the prevailing return in terms of the amount of energy generated for every dollar that is invested is far greater than any of the other forms of renewable energy.
There are certain countries that have made a more focused and aggressive push towards the extraction of renewable energy, and Iceland is a perfect example of this. Today, Iceland gets as much as 99 percent of its power supply from renewable energy sources. However, this is primarily due to its location more than anything else. Iceland is located in a region where geothermal energy is in abundance. Other countries would have to spend enormous sums of money if they want to change their power supply profile and give more weight to renewable energy sources.
The drive to a more advanced regime in the use of renewable energy is now a priority amid the growing concerns on global warming and the continuing rise in the cost of fuel. Renewable energy investments have been increasing since the 60s and the 70s. With the concern about global warming and limited supply of fossil fuels, there is an urgent need to reassess our position and plans for the utilization of potential sources of renewable energy.
It is quite obvious that solar energy is the form of renewable energy with the greatest potential. There are an abundance of private ventures and government initiatives that seek to put in place start-ups that would cut down the investment requirements for solar power facilities and increase efficiency of solar power generation. Solar energy can also be extracted through solar furnaces, which are designed to concentrate the sun’s ray to generate enough heat and create steam that runs the power turbines. It is currently a more efficient way of harnessing solar energy. The pursuit for a more efficient way of harnessing the power of the sun using solar panels continues and ultimately, we will get to the point where we will be able to enjoy a reliable source of renewable energy.
At present, viable sources of renewable energy are wind and water, and when it comes to the largest source of water energy, China’s Three Gorges Dam easily comes to mind. This mega-structure generates a mind-boggling 18 gigawatts of power and will account for some 3 percent of the energy requirements of China.
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