The solution to the problems of insufficient fossil fuels and their effect on the environment is to ensure that renewable energies play a significant role in the energy supply. Converting nuclear fuel, the earth’s fire, sunshine, and wind into electricity will meet the majority of the world’s energy needs in the following century. Technologies that incorporate the use of electricity and heat have become available, providing energy facilities more efficiently than fossil fuels. According to Golosov, these systems are safer than burning fossil fuels; using them will reduce carbon emissions by 61-81 percent (45). The problems caused by the use of fossil fuels can be rectified by using renewable resources like nuclear power and geothermal which are cleaner and almost inexhaustible.
There are solutions to improve the incentive of spending in the renewable resource. To start with, modifications in policy is the first approach to make in the direction of an extensive usage of renewable resources as the most important basis of energy. Nicoletti argued that it is upon states to create unilateral steps to make policies that shall assist move emission stages toward the objectives of the Kyoto Protocol and evade a probable economic disaster (208). Consequently, Greenhouse gas movements may be revolved around with remarkably modest shifts in strategy. Lin added that the push to result from obstacles of new technologies should originate from the state of individual government, for it would develop manner to political effort to make worldwide agreement to set rules to overwhelm these barriers (1120).
Firstly, a policy possibility is to correct fossil fuel costs so that they mirror environmental consequences. As Lin notes, this would provide renewable resources with the chance to be economically inexpensive (1119). When the costs of fossil fuels increase, there would be lack of disincentive to spend in the renewable energy plants. Secondly, another policy alternative is for countries to offer subsidies and tax incentives for generating electricity and installing equipment. Golosov asserts that numerous states currently practice this policy (46). Consequently, another policy could be for states to come up with a set “purchase costs.” This is a case where countries generate rules that put a stable price at which smaller renewable energy producers offers access to the electrical power grid (Golosov 47). This provides renewable resource firms incentive to access the marketplace because they have an assurance that they will have contact with the electrical energy grid, at low charges than other energy firms. In view of Lin, this generates a competitive market environment (1121).
Conversely, geothermal energy is an inexpensive and cleaner form of fuel made use of by several nations around the globe. Even though the technology utilized in tapping geothermal energy has been obtainable in the last few decades, some countries, for instance, the U.S. are at present, lagging behind schedules of the rest of the nations in extracting their geothermal energy. The techniques of tapping geothermal resource are both interesting and creative (Nicoletti 207). The method uses environment’s most plentiful substances, water, to take long from inside the earth to the surface. The majority of individuals understand little about the perspective of this greater form of energy due to the relatively current birth of geothermal fuel and continental growth.
In conclusion, the problems caused by the use of fossil fuels can be rectified by using renewable resources like nuclear power and geothermal which are cleaner and almost inexhaustible. Technologies have come to be accessible to combine the usage of power and heat, offering energy facilities more efficiently than fossil energies. To solve the problem caused by fossil fuel, modifications in policy is critical. These include correcting fossil fuel costs, offering subsidies and tax incentives for generating electricity and installing equipment among others are the approach to make in the direction of a large usage of renewable resources.
Golosov, Mikhail, et al. “Optimal taxes on fossil fuel in general equilibrium.” Econometrica 82.1 (2014): 41-88.
Lin, Chong, et al. “Survey of green vehicle routing problem: the past and future trends.” Expert Systems with Applications 41.4 (2014): 1118-1138.
Nicoletti, Giovanni, et al. “A technical and environmental comparison between hydrogen and some fossil fuels.” Energy Conversion and Management 89 (2015): 205-213.