World Energy Demands -The Future with Renewables

The International Energy Agency predicts in its 2005 World Energy Outlook that Global energy needs will grow by approximately 50 percent by 2030 with a continued rise in prices unless supply is increased substantially. The Agency also mentions that if countries put into place the action plan outlined by the G-8 Summit implementing more environment-friendly policies, the anticipated results should translate into a 25% lower demand for coal, a 27% growth in renewable energy sources and a 16% reduction in carbon dioxide emissions.

As renewable energy technology becomes more affordable as the price of equipment and components are reduced, this area of the energy arena continues to demand attention as a viable alternative solution to the growth and unmanageability of global energy demands. I am not sure that there can be a more obvious choice when the nation and the world has seen the vulnerability of current energy infrastructure with two hurricanes, terrorist attacks, the security risks of energy dependence, especially in areas hostile to the U.S., and the record high energy prices - all felt within 2005. This direction is anticipated to continue until solutions are implemented that steer consumption along a different path.

The world, however is changing as more consumers, corporations, politicians and even utilities are recognizing the value in energy independence, long term cost savings and protecting the environment. Developing countries such as China are representative of a global shift towards alternative energy sources and the implementation of a more diversified energy portfolio with the nation's recent announcement that it has raised its target for usage levels of renewable energy. While coal will remain China's primary source for electricity, renewable energy, with the recent 5% increase, will account for an estimated 15 percent of national consumption by 2020.