RENEWABLE energy, derived from renewable natural resources replenished on a human timescale, has rapidly become more efficient and cheaper over the past 30 years. The International Energy Agency defines it as “energy derived from natural processes that are replenished at a faster rate than they are consumed.” A large majority of worldwide newly installed electricity capacity is now renewable. Renewable energy sources, such as solar and wind power, have seen significant cost reductions over the past decade, making them more competitive with traditional fossil fuels.
The main motivation to replace fossil fuels with renewable energy sources is to slow and eventually stop climate change, mostly caused by greenhouse gas emissions. The International Energy Agency estimates that to achieve net zero emissions by 2050, 90 percent of global electricity generation will need to be produced from renewable sources.
To give suppliers of renewable energy greater flexibility and ensure an adequate supply of electricity to end-users, the Department of Energy (DoE) has proposed amendments to the Green Energy Option Program (GEOP) rule to introduce alternative power replacement options. It is hoped that this will draw additional players to GEOP.
The DoE is also exploring the creation of a pool where renewable energy suppliers and developers can collaborate to meet the demands of customers, potentially increasing supply capacity and fostering more competitive rates.
With all these collaborations going on, we have reason to believe the effects of the climate crisis can be effectively minimized.
There is much to learn from American writer and environmental activist Rebecca Solnit, who said, “There is a tender balance between urgency and humanity, and the truth is that keeping our brilliant selves whole and standing in solidarity with others will deliver so much more in the long run… We cannot honestly know if our actions will be enough, but that doesn’t mean we can’t try… If you are terrified, that could be a good thing because it means you’re paying attention. What you can’t do is let it immobilize you, to pull you down to worse depths. We have to learn how to bend with the intense winds and not be so rigid we break like the pine trees.”
It’s been proven time and again: there’s more to be gained from cooperation than competition.
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