As increasing numbers of countries globally are taking greater steps towards transitioning to greener sources of energy, the capacity of renewable energy is also increasing.
Data shared by the International Energy Agency (IEA) suggests that the share of renewable energy involved with power generation will reach 42% by 2028, which is a significant increase from the 29% recorded in 2022.
While there are many renewable energy benefits and moves towards increasing renewable energy sources are undoubtedly overwhelmingly positive, it would be inaccurate to suggest that no issues have arisen from this transition. We’ve put together this article to highlight some of the advantages and disadvantages of renewable energy, which we hope will provide you with a solid groundwork of knowledge that explains why, despite some of the valid concerns that have been raised, renewable energy is still the future.
Let’s begin by looking at some of the primary advantages of green energy…
Pro: Renewable Energy Can Be Replenished
It’s no secret that our reliance on fossil fuels is unsustainable because they are finite. In fact, scientists believe that our oil resources will be completely diminished within 190 years.
Conversely solar energy, for example, is abundant and consuming it isn’t going to cause it to run out. For context, current estimates indicate that the sun is expected to rise every morning for at least the next 5 billion years.
Pro: Renewables Can Reduce Energy Price Turmoil
Oil prices fluctuate on a daily basis, which can cause huge turmoil when it comes to the energy costs faced by households. Renewable energy can help to stabilise the energy market on a global level, in turn easing some of the financial pressures being faced by consumers.
Additionally, renewable technologies can reduce the global dependence on the handful of nations that are rich in fossil fuels, which will help to boost the economic independence of countries and minimise the risks of future energy crises.
Pro: The Renewable Energy Sector is Creating Jobs
In addition to the wealth of environmental benefits that renewable energy offers, the sector can also benefit economies globally. As demand for renewables increases, businesses will need to expand their workforce, creating jobs that will benefit both individuals, communities and even entire regions and countries.
In the UK in 2022, there were more than 639,000 full-time green energy jobs, which was an increase of 8.4% from 2021 and a 19.9% increase from 2020. Crucially, the green energy sector can offer a wide variety of employment opportunities, including engineers, technicians, project managers, sales professionals, customer service representatives, and financial experts.
Now, let’s explore some of the disadvantages of renewable energy and some of the ways in which these issues may be addressed moving forward.
Con: Renewable Energy Has High Upfront Costs
The costs of setting up renewable energy sites and systems are still high. In fact, many systems are simply financially out of reach for lower-income households in the UK. While the government has established grants and financial support packages, including the ECO4 grant, many would argue that support simply hasn’t gone far enough.
If you are interested in installing solar panels or heat pumps, it’s worth talking to experts who will have access to the latest information regarding the grants and financial support options that are currently available.
Innovation in the green energy sector is moving at a rapid pace and we expect to see the costs of renewables decrease as marketplace competition increases.
Con: Renewable Energy Isn’t Available 24/7
Many renewable energy sources utilise natural forces that aren’t always available. For example, wind turbines can’t generate energy when there is no wind. That said, these issues are swiftly becoming a thing of the past.
For example, installing a storage battery is an excellent way to optimise a solar panel system, as it can capture and store energy that can then be used outside of daylight hours. As battery technology continues to improve, the current limitations will start to ease, and systems will continue to deliver increased value to households and businesses.
Con: Renewable Technologies Aren’t The Most Efficient
Currently, the efficiency rates of more affordable solar panels stand at around 15%-23%. This increases to 40%-50% for better, high-end systems. However, it is still a little lower than the potential 60% efficiency levels that can be achieved through non-renewable sources such as natural gas.
The good news is that competition levels in the solar power sector are high, which is expected to lead to greater innovation with photovoltaics and the development of new solar panels that are much more efficient.
The Importance of Renewable Energy
With news of unprecedented weather events causing disruption and devastation hitting the headlines with increasing regularity, it is clear that the adoption of renewable sources of energy is needed to protect our environment and our communities.
It is important to remember that the issues the renewable energy sector has encountered are being addressed and reduced all the time, so renewable energy is very much the future and has the potential to continue to deliver enormous benefits to communities on a global level.
To discuss renewable options for your home or business, get in touch with a member of our team today. We’re more than happy to help.
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