Renewable Energy
The global transformation to a robust, clean energy economy is well underway. Clean energy sources are still in the process of creating thousands of new start up ventures creating millions of new jobs and setting up billions in future revenue and global opportunity.The U.K is set to revolutionise its power usage due to its development of renewable energy sources. The UK is a country with vast expanses of coastline which are ideal to install wind farms and tidal barrages. The UK is one of the richest nations in Europe as far as renewable energy resources are concerned.
Recent announcements that 15% of total UK energy demand must come from renewable sources by 2020 represents a massive challenge. It is far from the highest target - Sweden must reach 49% by the same time. It already produces 39.8% of its energy from renewable sources - so the UK's target is easily the largest jump among EU member states and creates a huge amount of opportunity.
Hydroelectric
Hydro-power is a natural resource, available wherever a sufficient volume of steady water flow exists. Because the development of hydroelectric power requires a large capital investment, it is often uneconomical for a region where coal or oil is cheap. Hydro-power currently accounts for approximately 85 per cent of renewable energy in the European Union, which has set a target of 8 per cent of electricity to be generated by renewable sources by 2010.On a large scale Hydroelectric is now becoming more limited, not only because of environmental concerns but also because many of the most economically attractive sites for schemes have already been used.
Tidal
Tidal has the unique advantage among renewable energy sources of being dependable and predictable and has considerable governmental support in numerous nations - a fact that guarantees it will have a role in future clean energy solutions.The tidal energy industry has reached a new era of development and relevance. It is being tested through the use of prototypes in numerous global locations. Excitement surrounding its prompt integration and usage is mounting, with the commercial benefits being widely recognised. The opportunities within this burgeoning industry are not to be undervalued and the foresight of the companies looking to forge partnerships within this sector is to be deemed as very wise indeed. This vision and foresight will invariably propel them into being the global corporate giants of the future. The increased pressure to terminate the global reliance upon fossil fuels is a landmark moment in human history and economics paving the way for renewable energy solutions such as tidal energy to take precedence.
Wind
Globally the UK is the most attractive destination for offshore wind. The UK is the windiest country in Europe and has one of the largest potential offshore resources in the world. Our offshore wind resource alone has been estimated as enough to power the UK three times over.In 2007 wind energy overtook hydropower to become the largest renewable generation source. Wind has been the world's fastest growing renewable energy source for over the last 5 years and this growth trend is expected to continue. Thousands of turbines will need to be built over the next 10 years equating to roughly £100Bn in investment and thousands of career opportunities.
Solar
Solar energy is the cleanest, most abundant, renewable energy source available. Today's technology allows us to capture this power in several ways. The greatest challenge many markets face is the scaling up of the production and distribution of solar energy technology in order to drive the price to be competitive.Solar power will create tens of thousands of jobs across the globe and will spur billions of dollars in economic growth and tax revenue.
- Expansions of solar energy companies resulted in 6,000 new jobs, 265 megawatts of energy and more than $2 billion of investment in the U.S. economy by Wall Street firms such as JP Morgan, Chase and Goldman Sachs.
