Clean-Energy Transition Poses New Sets of Challeng
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Posted On: 07/22/2024 5:14:33 PM
Clean-Energy Transition Poses New Sets of Challenges
As the world races to shed its reliance on fossil fuels and transition to renewables, experts in all associated fields will have to spend a considerable amount of time addressing a variety of new challenges. The United States, along with several other countries, have set lofty green-energy plans that will require significant investment coupled with massive infrastructure improvements with potential political costs.
Scientists have been talking about climate change since the 1990s, but three decades later the issue is still contentious and largely tied to politics. Progressive regimes are more likely to invest in renewables, but the transition could have major economic consequences for populations if it isn’t handled right. Many conservatives, on the other hand, don’t believe renewables are as critical and are more likely to support maintaining the status quo, especially if it allows employees in the fossil-fuel industry to keep their jobs.
Committing to green energy will be a massive undertaking that will require deploying vast amounts of green-energy capacity and preparing the grid to handle this capacity. Furthermore, stationary power storage will be necessary to mitigate the intermittent energy-generation nature of solar and wind and ensure the grid has access to clean energy at all times.
Subsidies will be key to driving the deployment of wind and solar farms across the U.S. Although the cost of producing green-energy infrastructure such as solar has taken off significantly over the past several decades, starting up clean-energy projects can be expensive. Subsidizing installation costs will make such projects more financially feasible and help them attract investment.
China has pumped billions of dollars into its renewables industry and now produces most of the world’s solar panels, followed by North America, Japan and Germany with the United Kingdom in 10th place. This presents another major challenge for western nations. China’s dominance in the global-renewables supply chain is already making many government officials extremely uncomfortable, and efforts are underway to develop domestic green-energy supply chains or find alternative suppliers from allied nations. However, China has a decade-long head start, and overcoming its monopoly will most likely take a herculean effort.
Another challenge will be figuring out how to direct all this new renewable energy into the grid without triggering congestion. While large solar or wind farms may be the go-to, they could lead to congestion if the energy has to be transmitted over long distances. Smaller installations that power neighboring communities would help prevent congestion and ensure consumers have access to green energy whenever they want, a role solar could play much better than wind.
However, power utilities and city planners may face push back from farmers and landowners, who argue against the repurposing of land for electricity generation. Consequently making major improvements to the national grid will likely come with a political cost for leaders who are pushing green-energy initiatives.
These issues will progressively be addressed, and companies such as Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) could see their order books swelling as a result of the heightened demand for the metals needed in the manufacture of clean-energy products, including stationary power-storage solutions.
NOTE TO INVESTORS: The latest news and updates relating to Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) are available in the company’s newsroom at https://ibn.fm/RFLXF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
As the world races to shed its reliance on fossil fuels and transition to renewables, experts in all associated fields will have to spend a considerable amount of time addressing a variety of new challenges. The United States, along with several other countries, have set lofty green-energy plans that will require significant investment coupled with massive infrastructure improvements with potential political costs.
Scientists have been talking about climate change since the 1990s, but three decades later the issue is still contentious and largely tied to politics. Progressive regimes are more likely to invest in renewables, but the transition could have major economic consequences for populations if it isn’t handled right. Many conservatives, on the other hand, don’t believe renewables are as critical and are more likely to support maintaining the status quo, especially if it allows employees in the fossil-fuel industry to keep their jobs.
Committing to green energy will be a massive undertaking that will require deploying vast amounts of green-energy capacity and preparing the grid to handle this capacity. Furthermore, stationary power storage will be necessary to mitigate the intermittent energy-generation nature of solar and wind and ensure the grid has access to clean energy at all times.
Subsidies will be key to driving the deployment of wind and solar farms across the U.S. Although the cost of producing green-energy infrastructure such as solar has taken off significantly over the past several decades, starting up clean-energy projects can be expensive. Subsidizing installation costs will make such projects more financially feasible and help them attract investment.
China has pumped billions of dollars into its renewables industry and now produces most of the world’s solar panels, followed by North America, Japan and Germany with the United Kingdom in 10th place. This presents another major challenge for western nations. China’s dominance in the global-renewables supply chain is already making many government officials extremely uncomfortable, and efforts are underway to develop domestic green-energy supply chains or find alternative suppliers from allied nations. However, China has a decade-long head start, and overcoming its monopoly will most likely take a herculean effort.
Another challenge will be figuring out how to direct all this new renewable energy into the grid without triggering congestion. While large solar or wind farms may be the go-to, they could lead to congestion if the energy has to be transmitted over long distances. Smaller installations that power neighboring communities would help prevent congestion and ensure consumers have access to green energy whenever they want, a role solar could play much better than wind.
However, power utilities and city planners may face push back from farmers and landowners, who argue against the repurposing of land for electricity generation. Consequently making major improvements to the national grid will likely come with a political cost for leaders who are pushing green-energy initiatives.
These issues will progressively be addressed, and companies such as Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) could see their order books swelling as a result of the heightened demand for the metals needed in the manufacture of clean-energy products, including stationary power-storage solutions.
NOTE TO INVESTORS: The latest news and updates relating to Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) are available in the company’s newsroom at https://ibn.fm/RFLXF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
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