THE NEED FOR ALTERNATIVE SOURCES OF ENERGY
Changing the energy mix
According to numerous international agencies, developing countries would need an estimated investment of $210 billion in the following decade, 2020 through to 2030. This investment will still only cover 50% of the identified energy need for most developing countries. Limited access to electricity and load shedding will continue to retard economic growth. The second Not to mention inhibit efforts to mitigate the impact of climate the impact of . Some developing countries are at the frontline of climate-related risks and a need for change is immediate.
The Economic Impact
The economic motivation to increase investment in renewable energy is based on the current and fore casted cost of energy generation. As of 2019, renewable energy sources have become more cost efficient than energy sources based on conventional hydrocarbons. By adopting an energy mix from renewable sources, research proves that developing countries can achieve universal electricity access by 2030. This would stimulate around $300 billion in GDP and create millions of additional jobs. Currently, costly and unreliable power reduces the chances of job creation by 41%. We are motivated by the data, by helping to reduce power outage levels and the cost of electricity, we are improving the standard of living and the cost of doing business in developing countries. We are investing in energy generation technology that capitalizes on abundant natural resources, such as solar irradiation and wind power, to generate electricity that is sustainable, affordable and reliable. According to reports from the United Nations (UN) and the World Bank; the economic impact of adopting more sustainable power will improve the GDP of developing countries faster than any other infrastructure development.
The need for developing countries to build a more robust energy infrastructure has never been more urgent. The world has entered the fourth industrial revolution and with it comes the opportunity for developing countries to transcend development phases and align with countries much further in their economic development. Legislation and adaptation of other new infrastructure technology such as the internet is also essential for countries to meet their development goals. However, everything runs on energy, access to sustainable, affordable and reliable energy is the first step to developing a sustainable economy.
Adapting to Climate Change
Climate Change is one of the biggest threats to our planet/our home. From shifting weather patterns that threaten food production, to rising sea levels that increase the risk of catastrophic flooding, the impacts of climate change are global in scope and unprecedented in scale. Without drastic action today, adapting to these impacts in the future will be more difficult and costly. According to the UN’s 3Fifth Assessment Report on climate change, hydrocarbons are one of 3 major contributors to the negative climate change. In the last 10 years, a third of all carbon emissions was produced by 20 companies in the fossil fuel sector. We need an alternative source of energy to oil, gas and coal.
The growing need for electricity is a trend that is going to only get bigger for more developed as well as developing countries, we need to urgently meet this new demand with responsible and sustainable energy generation. We believe that global efforts to scale up the energy transition from fossil to renewable will reduce the amount of carbon emitted into the environment by 35%. This will greatly curtail the negative health and environmental damage being done by greenhouse gas (GHG) emissions and deforestation, especially in developing countries.
Contact us now and let us power the world together with renewable energy!