The Economic Model Growth Of Energy - 1057 Words

Energy is one of the main drivers of economic and social development. Years ago, the only uncertainty was the price of oil. Now the concern is if the current economic model growth is reasonable in a world with limited energy resources. This has lead to more research in other forms of resources of energy. Now we have other unconventional resources such as wind, solar, geothermal, water, and so on. Energy demand is set to double by 2050 (Beckman, 2013). Therefore, greenhouse gases could double by 2050 as well. Hence, renewable energy is vital. However seen as fossil fuel is still the dominate source of energy, it makes it the current economic model growth rate somewhat unreasonable. Acceleration rate in policy, technological innovation, and consumer expectations are making the energy market increasingly complex. We would need innovation, incentives, investments and stronger technical standards to reduce the world’s energy intensity. When the industrial revolution began, the amount of carbon in Britain in form of coal was as much as the carbon in Saudi Arabia in from of oil. This coal improved the economy of Great Britain in 19th and thereafter. Just as coal production had its peak and declined thereafter, is the same way the oil production would. About 55 of the 65 oil-producing countries have already peaked in production. Many of the other countries left are expected to follow in the near future. Modern cities are fossil fuel dependent; even roads are made from bitumen.Show MoreRelatedMulti Objective Optimization Of Environmental And Energy Planning Problems1533 Words   |  7 Pagesenvironmental, economical and energy planning problems Mohammad Asim Nomani PhD Student Department of Statistics Operations Research Aligarh Muslim University, Aligarh, India Mob: +91-9528072689 Email: nomani.aasim@gmail.com Multi-objective optimization in environmental and energy planning Energy policy, environmental planning and economic development play a key role in sustainable development. Economic growth is closely linked to energy consumption since higher level of energy consumption leads toRead MoreIndi India s Solar Energy1483 Words   |  6 PagesExpectation Of Solar Energy in India] [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. 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