When you think “green” energy, you probably picture things like solar panels and wind turbines. And it’s true — for over a decade now, scientists have championed things like solar panels, electric cars, and wind turbine farms as ways we can lead a more ecologically-friendly and environmentally sustainable lifestyle.
One aspect of green energy that is sometimes overlooked, though, is the economic side of renewable energy. In this article, we’ll take a closer look at the economics of clean energy and suggest that renewable energy technology offers a wide range of economic benefits to communities who choose to go green.
Creating Jobs with Green Energy
One economic benefit of green energy is that it promises to create many new jobs for people all over the world. So far, economists estimate that green energy initiatives have created over 10 million jobs globally.
The reason for this rapid job growth is that the green energy sector is innovating and creating in real-time, meaning that the industry’s demand for workers will remain high in the coming years and decades.
On a governmental level, various countries have pledged to use a percentage of their economic resources to create renewable energy systems throughout their nations. For example, Saudi Arabia recently developed a $200 billion solar project that will be the world’s largest solar energy plant when it is completed.
Singapore is another country that is working to build innovative green energy sources for their citizens. The country’s government officials believe that green energy sources will offer a more reliable source of long-term energy than tried-and-true fossil fuels are currently providing to Singapore.
Re-Using Waste to Create Energy
One intriguing new renewable energy source that could be extremely beneficial from an economic standpoint is waste-based energy. One reason why utilizing garbage to create renewable energy offers so much promise is that waste-based energy is a great way to control the size of ever-expanding landfills.
In America, where landfills are taking up huge swaths of space, finding a way to use trash could be a great way to utilize real estate for other, more economically constructive purposes.
India — one of the world’s most populous countries — is one of the more notable places exploring the potential of waste-based energy. At the moment, the country’s energy experts believe that over 1/3 of the country’s garbage could be used for renewable energy.