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COMM 1312: Writing and Research. Section 101, Fall 2012\2013 Dr. Ali Alghazo Body Final Draft Conclusion Final Draft Name: Mohammed AL-Sarhani ID: 201000195 Role of renewable energy in mitigating climate change: The energy crisis has taken the world interest, and shaken up most of the industrialized economies, in particular, who are excessively dependent on oil imports. However on the other hand, this turn of events has led to the increasing significance of renewable energy. The present energy sources are heavily dependent on fossil fuels. Almost 80 per cent of the world’s total consumption is attributed to oil and gas (Hodel & Deitz, 1994; World Development Report, 2010; Lane, 2006), which indicates the excessive reliance on fossil fuels. From the materials used for construction of houses to the fuel used in automobiles, almost all aspects of human activities can be traced back to some or the other form of oil and gas. Below is a chart of a survey which been distributed among oil field and power plant employees and two third believe that the world will start to run out of oil by 2020 80.00% 66.66% 60.00% 40.00% 20.00% 16.66% 16.66% 0.00% 2012-2020 2021-2030 Never According to research, fossil fuel combustion is one of the major sources of CO2 emissions leading to environmental pollution, which result in triggering of global warming (IPCC, 2005; Letcher, 2008; Dawson & Spannagle, 2009). Furthermore, according to a report by the Intergovernmental Panel on Climate Change (IPCC) the CO2 emission is increasing at a rapid rate and has passed the level recorded at the dawn of the industrial revolution (IPCC, 2003). The emissions from production and use of energy has accelerated the greenhouse effect and significantly altered the natural environment, so negatively affecting the climate (Miller & Spoolman, 2008; Santos, 2011). These disadvantages can be solved by increasing reliance on renewable sources of energy. There is vast evidence supporting the various benefits of renewable energy particularly those related to mitigating climate change. The use of renewable energy is known to significantly reduce Co2 emissions and reduce the carbon footprint. According to Jacobson & Jacobson (2009) almost all sources of renewable energy which essentially replaces fossil fuel, are capable of reducing the carbon footprint and control the rate of Co2 emissions. The following chart shows that many people think that there is a chance to reduce global warming by using renewable energy 100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% 86.66% 10% Agree Neutral 3.34% Disagree Furthermore there is evidence which suggest that the use of renewable energy sources such as bio-fuel which is also known as ‘clean fuel’ is known to be carbon-neutral since the Co2 emitted from the combustion of such fuel is reabsorbed by growing more sugarcane thus negating the harmful gases emitted, to almost nil (Rosa & Ribeiro, 1998 qtd. in Pimentel, 2008). Sugarcane ethanol is known to significantly reduce Co2 emissions (Metz, 2008) and hence contribute to mitigating the damage caused by excessive emissions, ultimately reducing the carbon footprint successfully and effectively. The mitigating impact of sugarcane ethanol has been successfully established by the use of this renewable source of energy in Brazil where the energy balance was restored (Metz, 2008). Studies concerning the use of bio-mass in Africa; the use of hydropower projects and use of wastes in generating alternative sources of energy in Brazil; and the use of coal-fired power generation projects in South Africa have reaffirmed the key role played by renewable energy in reducing carbon footprint and mitigating climate change (Edenhofer, Pichs-Madruga, and Sokona, 2011). The use of renewable energy sources hence is one of the most viable alternatives to fossil fuels owing to the large amount of benefits provided by it, particularly with regard to restoring the damage caused to the environment and controlling climate change to a considerable extent. Economic impact and implications: Industrialized countries which rely heavily on oil and gas as major sources of energy for production as well as for enhancing economic development are largely responsible for controlling the energy flows and hence are often referred to as ‘high-energy civilizations (Krausman, Schandl, and Sieferle, 2008; Smil, 2000). The energy use of countries is directly related to their economic growth. Hence the drastic rise in use of energy particularly oil and gas, by the industrialized nations and lately developing countries is an obstacle to improve and accelerate their economic development (Ang, 2007; Lee and Chang, 2008). However, the increased concerns regarding the negative impact of fossil fuels on the environment, along with various other factors have led various countries across the globe to shift their focus to renewable sources of energy. The use of renewable energy is known to generate economic benefits for the countries. Research suggests that the market for renewable energy sources has increased significantly over the years (Schafer, 2005; European Renewable Energy Council, 2004; Solomon & Luzadis, 2009) with countries relying on such energy sources being the market leaders for initiating change. Countries generating and relying on renewable energy have now become market leaders. This success of such countries can be attributed to the fact that oil prices are constantly on the rise and the world is gripped in economic instability. Hence companies relying on renewable sources of energy are benefiting from the trade. According to the European Renewable Energy Council (2004) the market for renewable energy is likely to increase significantly in the coming years, and the investments in clean and renewable sources of energy also is expected to increase. Many countries are now seen eagerly joining the green energy sector in a bid to capitalize on the increasing market for renewable energy and generate economic gains, in the process. The sheer size and growth potential for the market for renewable energy and the willingness on the part of various companies to invest in the development of such alternative sources of energy is likely to result in a huge multiplier effect on the economy. This chart supports that using renewable energy would enhance the country economic 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Yes No I don't Know Contribution of renewable energy in employment generation and innovation: The increasing popularity of renewable energy across diverse industry sectors indicates opportunities for innovation and development of energy markets which will result in creation of employment opportunities in the process. This is primarily because the development of innovative means of energy sources requires hiring of highly skilled human resources (Bhattacharya, 2011). The greatest benefits of renewable energy can be accrued by developing countries which are most likely to benefit economically from the trade, since the renewable sources of energy are more or less, uniformly distributed across different geographic sectors. Thus investing in projects aimed at developing alternative sources of energy or relying on renewable energy can prove to be highly economical (Markandya & Halsnaes, 2002). Renewable energies are known to contribute generously in creating new employment opportunities, new industries, and new wealth in both industrialized as well as developing countries, although it is particularly known to contribute majorly towards the development of rural areas (Smith & Taylor, 2008). According to a study conducted by UNEP (2008) renewable energy is said to have contributed as many as 2.3 million jobs have been generated worldwide due to renewable energy. Similar reports were made by the German Environment Ministry claiming significant employment generation post investment in renewable energy sources. Similar trend was observed with regard to developing countries, such as India, Nepal, Africa, and Brazil where the investment in renewable energy sources resulted in increase in employment (Cherian, 2009; Goldemberg et al., 2008; Walter et al., 2011). In addition, the following charts shows experts opinion about new employment opportunity by using renewable energy 70.00% 66.66% 60.00% 50.00% 40.00% 30.00% 23.34% 20.00% 10% 10.00% 0.00% yes No I don't know These examples indicate the immense potential of renewable energy in contributing to the economic development of countries. According to GreenPeace the global drive to go green is likely to generate positive economic benefits to countries across the global, particularly those participating in investing in development of renewable energy sources. This new trend is expected to create over 2 million jobs by the year 2020 particularly in the low-carbon transportation sector since the demand for bio-fuels is likely to increase considering the oil reserves are drying up (Kammen, 2008). Political implications: It has been effectively established through research that the oil reserves are fast depleting and we are now at the end of the fossil fuel era. It is hence imperative for countries to shift towards renewable sources of energy to retain their economic stability. There are contradictory reports in the literature pointing each negating and affirming the possibility of generating oil through sophisticated technology (Greene, Hopson, and Li., 2006; Campbell & Laherrère, 1998; Kruyt et al., 2009). However if the overwhelming evidences made available by way of research indicating the depletion of oil reserves are to be believed, it is highly apparent that energy imports are likely to dwindle in the near future, resulting in a dramatic change in power relations among the politicians. Studies indicate that as opposed to fossil fuel the renewable sources of energy are distributed uniformly across the globe, regardless of the geographical makeup of countries (Edenhofer, Pichs-Madruga, Sokona, 2011). Thus, the reliance on renewable energy sources would help countries to control and effectively manage the price volatility caused by oil imports, and improve their balance of trade in the process (Grubb, Butler, and Twomey, 2006). This change in the import and export structure is likely to result in a significant change in the power relations between the nations and trigger energy security concerns in the long-run (Awerbuch, 2006; Bazilian & Roques, 2008). Benefits of renewable energy: Examples The world is now preparing for an “oil-less” era which is likely to result in drastic economic and political imbalances. According to the Royal Swedish Academy of Sciences the rapid exhaustion of fossil fuel is a cause of serious concern and it is highly likely that the shortage of oil would result in a global economic recession triggered off by exorbitantly high oil prices. In anticipation of the impending crisis, the Swedish government has decided to respond with an active plan to invest heavily in development and deployment of renewable energy sources (The Guardian, 2006). During the 1970’s Sweden was hit badly by the oil crisis. Oil accounted for almost 75 per cent of the country’s energy supply. However with consistent efforts the figure was reduced to 32 per cent by the year 2009. Sweden consumes significantly high amount of electricity amounting to almost 16,000 kWh per head annually. However compared to other countries with similar consumption patterns, the carbon emissions of the country is significantly lower. This is mainly attributed to the use of hydropower and bio-fuels in generating energy (Sweden.se, 2012). This move has helped the country in grabbing the top position among the green economies, giving it an economic and political power. Conclusion: Evidence suggests that we are on the end of oil era and the only means for survival is through investing heavily on the renewable energy sources. The benefits of alternative sources of energy are a lot and if it is been used appropriately, it is likely to generate positive economic opportunities. High amount of carbon emissions due to use of oil and gas, has accelerated the problem of global warming. As governments from across diverse countries still dealing with the dwindling energy sources and the environmental issues there is an increased possibility to include investment in renewable energy at the heart of key policy and decision making processes. The fact that renewable energy sources not only help countries in reducing their carbon footprint but also help in generating employment opportunities indicates the large scale benefits happened by alternative energy sources. Concerns regarding the climate and oil prices will increase in the near future. It is hence a mandatory for countries to capitalize on the growing trend of investing in renewable energy and use the opportunities available to them to their advantage.