Renewable Energy: Which Source Can Be Harnessed the Most?

Summary

  • Renewable energy round-up from different parts of the world.
  • What New Zealand must do to reach its sustainability goals
  • The world’s collective efforts towards reducing the carbon footprint.

In the world renewable energy scenario, there are several countries pitching in to strike a balance. It was recently announced that Vietnam could be the leading country in the South-east Asian league of renewable energy development. The transition of the company in term of energy has been  pretty impressive, as recently reported.

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The International Renewable Energy Agency is of the view that a solar boom is being experienced by Vietnam currently, with as much as 11.6GW of power being added to the national grid, as of 2020.

As the demand for energy in Vietnam is expected to rise manifold in the near future, major companies have invested huge amounts in the same. In the year 2020, a 45MW plant was set up in Ninh Thuan, which generated about 76MWh energy each year.

In terms of Renewable energy, New Zealand has had a major contribution with some companies working ceaselessly to create energy through renewable resources. Currently, they have focused their energies on reducing the carbon footprint on the Earth for which several steps are being taken. With goals in terms of climate change in mind, these companies are working to enhance their way of functioning to ensure that the least emissions are seen as a result.

While it is a gradual process, people are becoming more responsible towards the cause as well as their buying behaviour has witnessed changes too.

Also read: NZ government takes first step towards its 2050 carbon neutral target

Also read: Renewables-Newcrest sign pact for electricity supply to Rye Wind Farm

Also read: Tilt Renewables (NZX:TLT) Board Recommend Selling Business

The advice made by the Climate Change Commission to slowly move towards electric modes of transports and changing the industrial heat process to ensure a reduction of the carbon emission, supported by several front-running companies in the country. There is, however, a concern that moving too fast in this direction would mean an unnecessary strain on the economy of the country, while making things difficult for the customers in their day-to-day lives.

The trick here would be a gradual shift from the current practices to a place where everyone is making conscious choices to ensure that the eventual impact on the environment is lesser than it was before. Being able to save millions of dollars in fuels will become possible when the step-by-step process to reach a time where people only have electric cars is followed, keeping in mind that all the demand and supply channels and act and effect modes are in right place.

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