The rise of renewables is not without risk for investors

Introduction In recent years, the urgency to combat climate change and abandon the use of fossil fuels has become more and more evident. Fortunately, the development of renewable energies has provided a clean and sustainable way forward. Now, with the growth of renewable energies throughout the world, they are slowly but surely becoming the primary source of energy. In 2020, renewable energies accounted for 19.1% of gross final energy consumption in France, whereas in the United Kingdom, renewable energies now account for a staggering 43% of the total energy consumed. Reasons for the growth of renewable energies The growth of renewable energies is due to a combination of factors. The increasing awareness of the damage caused by the use of fossil fuels has made the general population more inclined to choose a more sustainable form of energy. Additionally, the destabilization of the energy markets and the rise of energy prices has made renewable energies even more attractive to consumers as they tend to be cheaper in the long-term. Scientists and policy makers have also played a key role in the development of renewable energy sources, as many countries are now offering incentives and subsidies to increase the use of renewable energy sources, such as wind, solar and hydroelectric power. Advantages of renewable energies There are many advantages of using renewable energy sources over conventional energy sources. Renewable energies are generally more affordable in comparison to conventional energy sources, due to the fact that they do not require any additional costs such as fuel and transportation. Additionally, renewable energies are not only cheaper, but they also produce zero emissions, making them much more environmentally friendly. Furthermore, renewable energy sources are also sustainable and unlikely to run out, as they are powered by natural sources such as wind, sun and water. Disadvantages of renewable energies Although renewable energies are preferable to conventional energy sources in most cases, they do have some drawbacks. One of the main disadvantages of renewable energy sources is that they are not as reliable as conventional sources, as the source of power (e.g. sun or wind) may be unable to supply a constant stream of energy. Furthermore, the costs associated with the installation of renewable energy sources, such as solar panels or wind turbines, can sometimes be quite expensive. Finally, it is also important to note that renewable energy sources could sometimes lead to disruption of nature, such as the habitat destruction caused by the construction of hydroelectric dams. Conclusion Overall, renewable energies have a bright future, due a combination of factors, including the increasing awareness of the damaging effects of fossil fuels, the destabilization of the energy markets, and the incentives and subsidies offered by countries to promote the use of renewable energy sources. With these factors in mind, it is clear that renewable energies are not only a viable alternative source of energy, but also one that is cheaper, more sustainable and environmentally friendly. Nonetheless, it is important to consider the various disadvantages of renewable energy sources, such as their reliability and the costs associated with their installation. Ultimately, renewable energy sources continue to offer an attractive, clean and sustainable way forward in the fight against climate change.

https://www.lifetechnology.com/blogs/life-technology-technology-news/the-rise-of-renewables-is-not-without-risk-for-investors

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Russia–Ukraine war has nearly doubled household energy costs worldwide—new study

The Russia–Ukraine War and Its Impact on Global Energy Costs The Russian annexation of Crimea and its ongoing aggression towards Ukraine has caused instability throughout the region and has had a direct effect on energy costs around the world. With increased geopolitical tensions, global energy prices have spiked, forcing many households to pay higher costs for heating, cooling, lighting, and mobility. In addition, these higher costs are also indirectly impacting other goods and services throughout global supply chains. As a result, households everywhere are feeling the pinch when it comes to their energy costs—a pinch that is hitting the most vulnerable households the hardest. It’s no secret that energy costs are higher during times of geopolitical unrest, but the Russia–Ukraine war has presented a unique situation. With an international state of anxiety about the future of the region, energy prices are increasing faster than usual, and the effects are being felt in countries around the world. In addition to the direct costs of higher energy prices, the costs of other goods and services throughout global supply chains are gradually increasing as well. For households, this translates to higher costs for the everyday necessities like heating, cooling, lighting, and mobility. But who is bearing the brunt of these higher costs? That depends on a household’s income, how they spend their money, and where their products are sourced. Lower income households are most affected, as they often have fewer resources to allocate to energy costs, and thus feel the pinch more acutely. Additionally, households who rely on energy-intensive products, such as those sourced from global supply chains, also tend to feel the effects of higher energy costs more severely. The good news is that there are potential solutions to help vulnerable households cope with higher energy costs. Targeted energy assistance programs, such as those that offer free heating and cooling to low-income households, can help those in need. But for these solutions to be effective, it’s important to know who is most affected, to what degree, and why. A deeper understanding of the socioeconomic and geographical factors that are contributing to higher energy costs is necessary in order to develop solutions that truly make a difference. The Russia–Ukraine war has had a dramatic impact on global energy costs. With households feeling the pinch of higher prices, it is essential that targeted energy assistance programs are developed and implemented to help those most affected. A better understanding of who is feeling the effects of this crisis—their income, how they spend their money, and where their products originate—is the first step towards enacting meaningful energy solutions. Without this understanding, vulnerable households will continue to be left behind in this time of crisis.

https://www.lifetechnology.com/blogs/life-technology-technology-news/russia-ukraine-war-has-nearly-doubled-household-energy-costs-worldwide-new-study

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