The importance in investing in renewable energy
We speak a lot about why solar panels are a great investment as your energy bills are reduced once installed. However, the advantages of solar pv extend beyond personal financial gains. It’s important to keep in mind the positive impact it has on our environment, especially for the sake of future generations.
The escalating temperatures and rising sea levels have reached alarming levels, emphasizing the need to do something. Any steps we take to address these issues will contribute to a healthier planet. One significant way we can head towards a greener planet is by embracing renewable energy, such as solar PV. In the following sections, we will explore the various benefits of utilizing renewable energy and highlight its importance.
Firstly, what is renewable energy?
Renewable energy refers to energy derived from naturally replenishing resources, unlike the resources universally used such as coal, oil and gas (where there is only a finite amount of these on earth). Renewable resources include sunlight, wind, movement of water and geothermal heat.
Fighting climate change
Climate change, resulting from the emission of Greenhouse Gases (GHGs), poses a threat to life on Earth, with global warming being one of its consequences. This can have a detrimental effect on the world, including heightened temperatures, and various natural disasters. Recognized by the scientific community, renewable energy sources is significant in mitigating the impacts of climate change is widely acknowledged.
One of the key advantages of renewable energy sources is their minimal to non-existent emission of GHGs. By reducing the emissions originating from energy generation, we enable the Earth to heal itself more rapidly and potentially reverse the course of climate change.
Inexhaustible energy
The significance of green energy is undeniable due to its virtually inexhaustible availability in nature. One notable example of a globally abundant renewable energy resource is solar energy, which can be harnessed in varying degrees across the world. In contrast, conventional energy sources like coal, gas, oil, and nuclear have finite reserves. This highlights the crucial role of renewable energy in establishing a sustainable energy system.
Renewable energy has the potential to bring an energy independence to local economies. Reliance on fossil fuels, especially those obtained from other countries, can compromise the security of energy supply. As evidenced by the conflict, the Russia-Ukraine war, with interruptions in the gas supply from Russia. This has led to a crisis in nations dependent on such fuels, resulting in a surge in living costs. By diversifying energy sources and reducing dependence on a fossil fuel, we can enhance our position in fighting against climate change. This has caused an influx of installations of solar pv, as a way to fight against the rising costs.
Reliability and resilience
Wind and solar energy systems are less susceptible to large-scale failures due to their distributed and modular nature. Distributed systems are spread across a wide geographical area, ensuring that a severe weather event in one location does not result in a complete power outage for an entire region. Modular systems consist of numerous individual wind turbines or solar arrays. Even if some components within the system are damaged, the remaining units can typically continue functioning.
A significant concern in certain countries is water scarcity as coal, nuclear and gas plants rely on an adequate water supply for cooling purposes. This means the severe droughts and heat waves, which are consequences of climate change, can jeopardize the electricity generated. In contrast, wind and solar photovoltaic systems do not require water to generate electricity or for the maintenance of the system.
Jobs and other economic benefits
The significance of renewable energy sources extends beyond their ability to reduce greenhouse gas emissions. They also hold potential as a catalyst for job creation and economic growth.
In comparison to fossil fuel technologies, which are typically mechanized and capital intensive, the renewable energy industry is more labour intensive. The installation of solar panels and the maintenance of wind farms, for instance, require more people in the installations
From an economic standpoint, opting for renewable energy, such as solar PV, can yield financial benefits. The cost of installation can be recouped within a few years through savings on electricity bills. In Ireland, many grants are offered so that you get some of your money back from your quoted price. On top of this, as of the 1st of May 2023, zero rate VAT will apply to the supply and installation of solar panels on or ground mounted to domestic premises.
