Renewable Energy Investments surpassed investments in Fossil Fuel Electricity investments in Europe and USA in 2010 as developed countries focused on alternative energy as a solution to the problem of Global Warming and higher Fossil Fuel Costs. While Wind and Solar Energy are currently the dominant forms in different types of Renewable Energy, others like Tidal and Wave Energy are also seeing a lot of investment in R&D. The major advantage of Renewable Energy is that it does not emit GHG which is the leading cause of Climate Change. While this is the biggest Need for Renewable Energy other needs are equally if not more important.

Need For Renewable Energy

Environment Friendly, Global Warming and Climate Change – Renewable Energy does not produce any GHG emissions or cause air pollution from the combustion of fossil fuels unlike coal, oil or gas. Alternative Energy does not require major mining activity leading to health hazards like thermal power. Renewable Energy also does not cause pollution disasters like the BP Oil Spill

Energy Security – Most Developer and large countries are dependent on importing billions of dollars in fossil fuel from countries with unstable and repressive political regimes. The Middle East is the biggest exporter of Oil and Gas. The region is ruled by despotic,undemocratic rulers. This make them volatile leading to the disruption in the supply of crucial energy supplies. Libya, Bahrain revolutions and civil wars underline the problems with importing energy. Europe has faced a number of disruptions in the supply of Russian Gas. Note all these fossil fuel countries are notoriously negligent in Global Warming Efforts. Russia and Saudi Arabia the 2 biggest exporters of Oil are the worst offenders in this respect

Peak Oil – Rapidly increasing population and growing prosperity in developing countries like China and India has put growing pressure on global resources. Oil has been increasing in price as the supply fails to keep up with the growing demand. Note a number of important think tanks and countries have said that Peak Oil is about to be reached when supply stops growing because lack of Oil Deposits. This will lead to a drastic change in lifestyle as the global economy is heavily addicted to Oil. Coal and Gas Prices have also been rising in sympathy with Oil Prices making Energy costlier.

Summary

Renewable Energy also helps in supporting the democratization of energy production by allowing people to generate electricity themselves through rooftop solar panels and improves energy efficiency as no need for expensive electricity transmission is needed. Different Renewable Energy types have their own pros and cons which differs from each other. However one thing is sure, all types of Clean Energy will be needed to replace the massive energy needs of the world which is being unsustainably fueled by Fossil Fuel Sources.