In: Economics
What in your opinion, are the possible barriers to the transition from fossil fuels to 100% renewable energy sources?
Answer: Renewable sources of energy are the sustainable alternative of fossil fuel based energy sources, have no negative impact on climate, yet there are certain challenges remain for transition from fossile fuel to 100% renewable source based energy sources both in developing as well as developed countries:
1.ECONOMIC : such transition needs more research and development in field of affordable and accessible renewable source energy.Hence funding is the main challenge in developing countries though developed countries facing less funding problem.
2. TECHNOLOGICAL CHALLENGE : this is the main constraint as problem of storage of solar and wind energy, grid connectivity is another challenge.
3.HIGHER COST PER UNIT: affordability of energy is another problem.Though countries like Germany have registered tremendous improvement in cheap availability of renewable energy.
4.LOBBING : Lobbing by such industrial groups works as a pressure on the government yet initiatives by environmentalist groups are doing good work against sansitising public against pros and long term benefits of renewable sources of energy.
5: POLITICAL WILL: various developed countries like US are now taking their steps back and saying Climate change phenomena a hoax hence another challenge in acceptability of renewable sources of energy.