The process of transitioning to Green energy is one that has been slow and government policies. The stakeholders have no pushed for green energy enough, affecting the process of transition. There has been some traction in the recent past, this might be the year that the transition fully began.
The world has started to gradually move away from fossils fuels. This is because they are expensive in the long term, harms the environment and they can also be depleted, leaving the world in darkness and without enough alternative energy. The fossils fuels will still continue to be used, until green energy becomes efficient and sufficient to supply the whole world with enough energy.
Aside from this green fuels are cleaner compared to other types of fuels. According to Bryan Singer of Universal Site Services parking spaces of companies using green fuels are less prone to carbon deposits and fuel stains compared to parking spaces with regular cars parking in them.
There are a lot of economic effects that renewable energy will have on major world economies. There are some countries that have been able to gain power and a lot of resources as a result of mastering the extraction and utilization of the oil.
For many economies that depend on oil, then green energy is bad news for them. With time, the cost of installing renewable energy system has continued to decrease. The efficiency has also improved, meaning they can generate more energy than before.
However, the surge in wind and solar installation has proved that the oil domination, that has shaped economies, may not last long after all. There are many companies that are questioning their investment in this sector. Solar has become a major fossil fuel competitor, as opposed to being a niche supplier.
The rise in climate change awareness has also played a role in the transition to Green energy. Many countries have set a limit on their carbon emission and have policies and regulations that will help them. To achieve this, countries must reduce the use of oil as much as possible.
There are major economies that have started to reduce their emissions by passing strict legislation that dictate the machines and cars used. Most cars that are being currently manufactured do not emit a lot of harmful gases and there are some that are manufacturing hybrid cars. The climate summit plays a role in some instances because this is where the limit of emissions is set.
One major economic powerhouse that has done a lot to reduce the dependence on fossil fuels by switching to green energy. China is currently leading in the use of solar and wind power. They are working hand in hand with other countries like the US.