Where do we stand with global renewable energy?
Given the events of the past year, it’s evident that clean energy strategies are needed now more than ever. However, the path from fossil fuels to renewables might not be as clearly laid out as people would have hoped. While the industry continues to research and develop new clean projects, they’ve taken steps to turn existing practices that minimize the damage to the environment.
Sustainability remains a key issue in the majority of energy markets. Global companies like Sulzer that implement sustainable practices are making their way around the world to ensure that other firms are following in their pursuit. One of their more recent partnerships was with UnaOil, where the two joined forces to create a Rumaila base that would service oil and gas rotating equipment in Southern Iraq.
But seeking sustainable solutions for oil and gas simply isn’t enough to drag the global energy market out of its current state. The world still heavily relies on fossil fuels that damage ecosystems, and was sent into a panic when crude oil lost more than $100 in value. In a way, the oil crisis was a blessing in disguise as it showed how ill prepared we were to face the consequences of canceled projects and deactivated rotaries. It was a sign that we needed to further develop clean energy sources, thus lessening and eventually eliminating dependence on non-renewables.
Unfortunately, the International Energy Agency says that we’re falling short of our goals when it comes to clean energy technologies. Global temperatures are on the rise, and their target is to reduce these annual increases to no more two degrees Celsius. In 2013, the industry seemed to be on track with two new clean technologies to maintain temperature levels. Last year, there was only one, and disappointingly, none so far this year. However, this doesn’t mean that no progress has been made in the renewables industry. Rather, we’ve just been falling behind schedule. Better late than never, as they say.
Take a look at America, a superpower that was hit harder by the oil crisis more than any other nation with over 100,000 job cuts in oil. A recent survey shows that the energy job sector is shaping up with over 7,000 new jobs in Illinois’ clean energy field, totaling the number of clean energy jobs in the Lincoln area to 104,449. Not only does going “green” benefit the environment, but it also increases future investment and will save billions in consumer costs in the future. Supplying jobs like these economically makes sense.
India has abundant untapped renewable energy resources. India also has significant potential to produce energy from biomass derived from agricultural and forestry residues.