Why do I read?

As we can see from this photo in my office books are hugely important to me. They influence me and ground me. They give substance to points. They help me articulate and formulate dialogues and…

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CONCLUSION

The exploitation of our planet and degradation of the environment have gone up at an alarming rate in the past few decades, and we are paying the price. Literally. With rising electricity bills and air pollution towers going up, it’s time we look into alternative methods of resourcing energy and making a more sustainable future for not only ourselves, but the generations ahead of us.

Exploring the top 5 problems currently facing the sustainable energy movement, we hope to give a better understanding of the necessity and value of utilizing sustainable energy resources, and moving toward a cleaner, more cost-effective future.

Electricity is important to everyday lives. Each year we see an increase in residential, commercial and industrial electricity bills, sometimes far exceeding the inflation rate. In 2017, a study was done in South Africa comparing electricity prices over a ten year period. The study concluded that in a decade, electricity costs rose by 356%, far exceeding the inflation rate, which increased by 74%. Unfortunately this continues to be on an upward rise with no indications of slowing down.

Each country has a unique set of factors contributing to their electricity prices. For example, access to fossil fuels may be limited, meaning the price of fuels will incur additional transportation costs hiking up the price of electricity, compared to a country that extracts its own fuel. The cost of generating electricity is the highest component influencing electricity price, here are several other factors that are relevant across the board when determining electricity costs:

Fuels — the world’s dominant energy source, namely coal, oil and gas. These can be abundant and cheap, or scarce and expensive depending on geographical location. As electricity can’t be stored, supply must meet demand. High demand increases the cost of fuels, thereby increasing the cost to generate electricity. Their production causes environmental and human health issues.

Power plants — referring to the cost to finance, build, and continuing maintenance and operational costs of power plants and the electricity grid.

Transmission and distribution system — electricity is often produced far from where it is used, so infrastructure needs to be built to connect the two. The systems that deliver the electricity have ongoing maintenance and repair costs.

Weather conditions — extreme conditions can increase the demand for electricity, and demand drives prices up. Weather also causes damage to infrastructure.

Location — prices vary based on the availability of power plants and fuels, as well as pricing regulations depending on country / region.

Fossil fuels make up 82% of the global energy supply. Generating these into electricity contribute to 40% of energy related carbon dioxide emissions. Carbon emissions raise global temperatures by trapping solar energy in the atmosphere. This has serious consequences on our environment, namely altering water supplies, weather patterns, changing the growing season of crops and increasing sea levels. Renewable sources of electricity, like solar and wind, produce zero direct carbon emissions.

2. DEPLETING RESOURCES

As previously discussed, most countries rely heavily on fossil fuels for energy. Fossil fuels are found in layers beneath the earth’s surface, formed by the decomposition of the remains of living organisms over a period of millions of years. These resources will not be replenished in our life time, giving them the label: non-renewable.

There are three main types of fossil fuels: coal, oil and natural gas. These non-renewable resources not only have harmful effects on the environment when converted into electricity, but are also becoming more costly and dangerous to extract. This has direct consequences on the finances of the consumer, the environment, and the quality of life for future generations.

The rate at which the world consumes fossil fuels is increasing rapidly. As the population increases, the electricity demands go up, factoring in parts of the world that are moving into more developed states demanding more energy. Below is a graph showing future energy reserves for coal, gas and oil:

This graph indicates that if we do not make significant changes to the way we source and generate electricity, we will see the depletion of fossil fuels in our lifetime

There are a number of renewable energy sources we can use instead of burning the ozone layer with fossil fuels: solar energy (sunlight) can heat and light infrastructures; wind energy can be captured in wind turbines; movement of water creates hydroelectric power; using biomass made from plants is called bioenergy; hydrogen, once separated from its natural compound, can also be converted into energy. Geothermal energy taps into the Earth’s heat and can be used to produce electric power, and tidal energy is drawn from the ocean tides, a result of the gravitational pull of the moon and sun.

3. MONOPOLY CONTROL OF SUPPLY AND PRICING OF ENERGY

Electricity is the driving force of modern society. It is generated, distributed and sold by an electric utility. Most commonly, these companies are a natural monopoly in their industry. This is due to the high start up costs the company endured: setting up power plants, distribution networks and power grids; and lack of competition. This allows the company to charge higher prices and increases their market power, without necessarily offering a better quality product. This in turn has negative effects on the consumer, with few alternative options available.

This is leading consumers and companies to think about seeking alternative methods of sourcing electricity. Several panels around the world are starting to discuss innovations within this sector of the industry, like how technology can come into play in the distribution and creation of other sources of renewable energy. By embracing these new ways of creating and distributing electricity, we can take the power out of the big corporate’s hands and into the hands of the consumer.

4. IRREVERSIBLE ENVIRONMENTAL DAMAGES

Our planet is currently facing a number of environmental problems. Global warming, acid rain, air pollution, urban sprawl, waste disposal, ozone layer depletion, water pollution and climate change are all consequences of our negligence and ignorance. And the most significant contribution to the deterioration of our planet: fossil fuels. Every point of the fossil fuel supply chain is causing damage; from extraction processes, transportation from the mine or well, the burning process to the toxic waste byproducts.

The following environmental damages are directly linked to the electric power industry:

Air pollution — contamination is created by the burning of fossil fuels, discharging different gasses and poisons into the air

Land pollution — the degradation of the earth’s surface is caused by human activities like mining and industrial activities. These have harmful effects on human health.

Climate change and global warming — burning fossil fuels release greenhouse gases which have a direct impact on atmosphere. This causes environmental changes like melting of polar ice, change in seasons, new sicknesses, and temperature increases.

Natural resource depletion — non-renewable resources are limited, burning them at the alarming rate that we are is leading to global warming and increased sea levels

Acid rain — occuring when chemicals released into the environment mix with water molecules and rain down. This is prevalent in most of eastern Europe (from Poland to Scandinavia), the eastern third of USA and the southeastern region of China.

A map of Boston’s methane emissions, leaked from ageing pipes.

Highlighting just a few of the considerable damages caused:

The United Nations Intergovernmental Panel on Climate Change (IPCC) says this combustion is causing a discernible change of the global weather and climate patterns that will affect all humanity in decades to come. (Geni.org, 2019)

The impacts of burning fossil fuels are gaining traction, as they should and are causing a number of people to start advocating the use of renewable energy sources. These small shifts from our current behaviours will not bring back what has already been destroyed, but can make a positive difference to the rate in which we are currently destroying the earth we live on.

5. LACK OF GOVERNMENT SUPPORT AND FUNDING FOR RENEWABLE ENERGY

We’ve discussed all the reasons why we need to move to more sustainable energy sources, so why aren’t we implementing them? Studies indicate that most countries have an enormous potential for renewable energy production, so why no shift?

Slow development of renewable energy implementation can come down to a number of reasons: inadequate funds, lack of infrastructure, lack of technological advances and underprivileged energy policies. Unfortunately, a country’s economic status determines the level of renewable energy adoption.

Developing countries lack the funding to finance infrastructural developments required to set up and develop renewable energy plants. India, for example, is rich in both renewable and conventional energy resources, but continues to use coal as their dominant source of electricity. As it’s abundantly available and relatively low cost, there is no priority from government to pursue a more eco-friendly route. This is also contributed by the lack of complete energy policy declarations from government (several renewable energy technologies remain in advancement phase).

Furthermore, lack of initial capital and the availability of incentive and subsidies from government contribute to hindering the movement toward sustainable renewable energy solutions. Governments need to focus on technology and manufacturing commitments that support clean energy. Incentives for companies to focus on development need to be implemented, with a focus on fair competition and healthy returns on investment.

Blockchain is enabling us to move from an ownership economy to a shared economy, making it possible for us to share resources. ENERGY One is embracing this technology, using it to make significant efforts to save the environment, as well as save money for the individual. By implementing sustainable energy systems within cities, individuals will be able to trade sustainable energy on a peer-to-peer level.

By embracing this new technology we not only save money as an individual, we also make significant efforts to save the environment.

Why do I read?

CONCLUSION

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