Sustainable Energy Generation: What are the Perspectives

Ibrahimov, Magsud
March 2013
International Proceedings of Economics Development & Research;2013, Vol. 59, p149
Academic Journal
The world is hungry for energy and we are consuming around 11 billion ton oil equivalent energy whereas 80 per cent of this demand is covered by non-renewable fossil fuels. Crude oil, gas, and coal are depleting sources, their prices are almost always growing and environmental conditions are getting worse since global warming is provoked by rising greenhouse gas emissions. As per estimation of International Energy Agency there was a rise in carbon emission by more than 40 per cent between 1990 and 2008 in comparison with the figures of earlier decade. This paper is analyzing current tendencies in energy sector highlighting the importance of reducing the dependence over fossil fuels and transition to renewable energy generation sources. It is argued that any gradual passage from conventional to non-conventional energy generation process is inefficient unless governments enforce strong political and financial measures for switching energy generation process from one to another. On the basis of this analysis, it is further argued that reliance only on fossil fuels is leading to unstable market condition, constant price fluctuations, exchange rates instability, deposited rate changes, etc. The passage from one energy generation system to environmentally friendly renewable energy generation is solution for building sustainable energy generation system in the long-term future.


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