Increasing threat of global warming and the environmental consequences due to green house gases from fossil fuels and from the other non-renewable energy is the rising anxiety in the world. Greenhouse Gases (GHG) emissions cause the environmental damage and global warming and their consequences are different along with countries. Too much dependency on Non-renewable energy sources and without proper plan of action to reduce the GHG emissions, these gases could increase the temperature level rapidly in coming years. This implies there could be more than 50% chances that the global temperature could increase from 2°C to 5°C in the short as well as long-run (Stern et al. 2006). These changes in the temperature level would effects all the countries
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However, some researchers try to explain this plausible mechanism for such case. Domac et al. (2005), suggests that renewable energy might play a vital role to increase macroeconomic efficiency leads to enhancing the economic growth. Either because of expansion of existing and new industry installed with renewable energy, which resulted in economic growth or to substitute energy imports, which has direct and indirect influence on the economy and trade balance. Abulfotuh (2007) Suggests that one possible way to solve the environmental degradation problems occur due to increase in demand of the energy is to consider instant change in the composition of energy resource mix. It is expected that renewable energy sources have great potential to solve a major part of global energy sustainability. Adoption of environment friendly sustainable techniques, forest conservation, water conservation, reforestation, or improvement in the energy efficiency is some of the proposed methods by Masui et al. (2006) to cater the issue of related to climate change. Another way to mitigate the CO2 emissions is the encouragement of the renewable energy sources among users. Krewitt et al. (2007) suggest that to prevent any dangerous anthropogenic interference with the climate system, half of the energy needs could be filled by the renewable energy sources …show more content…
basic utilization or financial projection or ecological impact of renewable energy. To make it easy the transition of renewable energy from conventional energy, training and community consciousness plans needed on large scale to prepare the well verse decisions, high level of awareness around the renewable energy; thus it increases the identification among new users (Sidiras & Koukios 2004, Gossling, Kunkel, Schumacher, Heck, Birkemeyer, Froese, Naber & Schliermann 2005 & Mirza, Ahmad, Harijan & Majeed 2009). According to the International Energy Outlook (IEO, 2010), it is expected that renewable energy resource to be the emergent energy resource in world. Specifically, the average use of world’s renewable energy for generation and consumption of electricity will grow and increase by 3% and 2.6% per year over the period 2007 to 2035 respectively. As a result, the renewable share of world electricity generation will increase from 18% in 2007 to 23% in 2035. The largest share in total renewable electricity generation is projected at 54% and 26% by the hydroelectric and wind energy
However, some researchers try to explain this plausible mechanism for such case. Domac et al. (2005), suggests that renewable energy might play a vital role to increase macroeconomic efficiency leads to enhancing the economic growth. Either because of expansion of existing and new industry installed with renewable energy, which resulted in economic growth or to substitute energy imports, which has direct and indirect influence on the economy and trade balance. Abulfotuh (2007) Suggests that one possible way to solve the environmental degradation problems occur due to increase in demand of the energy is to consider instant change in the composition of energy resource mix. It is expected that renewable energy sources have great potential to solve a major part of global energy sustainability. Adoption of environment friendly sustainable techniques, forest conservation, water conservation, reforestation, or improvement in the energy efficiency is some of the proposed methods by Masui et al. (2006) to cater the issue of related to climate change. Another way to mitigate the CO2 emissions is the encouragement of the renewable energy sources among users. Krewitt et al. (2007) suggest that to prevent any dangerous anthropogenic interference with the climate system, half of the energy needs could be filled by the renewable energy sources …show more content…
basic utilization or financial projection or ecological impact of renewable energy. To make it easy the transition of renewable energy from conventional energy, training and community consciousness plans needed on large scale to prepare the well verse decisions, high level of awareness around the renewable energy; thus it increases the identification among new users (Sidiras & Koukios 2004, Gossling, Kunkel, Schumacher, Heck, Birkemeyer, Froese, Naber & Schliermann 2005 & Mirza, Ahmad, Harijan & Majeed 2009). According to the International Energy Outlook (IEO, 2010), it is expected that renewable energy resource to be the emergent energy resource in world. Specifically, the average use of world’s renewable energy for generation and consumption of electricity will grow and increase by 3% and 2.6% per year over the period 2007 to 2035 respectively. As a result, the renewable share of world electricity generation will increase from 18% in 2007 to 23% in 2035. The largest share in total renewable electricity generation is projected at 54% and 26% by the hydroelectric and wind energy