Renewable energy is reputed as the best solution to our electrical energy problems and it also offers several benefits like-
- It won’t run out
- Its maintenance cost is minimum
- It helps in saving money
- It has many environment-friendly and health benefits.
- This energy eliminates our dependency on mainstream power sources.
But still, the alternative energy industry faces several challenges such as – government legislation, political pressures; lack of appropriate backup systems, and existing market situation, etc. affects the acceptance of alternative energy across the world.
In spite of these issues, alternative energy has been globally adopted as a provision to reduce global warming. This energy is clean, free of pollution and carbon. It’s the most viable solution to conventional sources of energy.
The higher upfront installation cost:
The most common cause of global warming is carbon emissions; many attempts were tried to increase its adoption but the cost plays an important role in influencing its adoption. And one of the major problems with its adoption is the higher upfront installation cost. Of them, all the cheapest energy resources are- Solar and wind energy.
But having said that, there’s a big difference in the initial cost of solar rooftop system installation. A sizable rooftop solar system costs around $2,000 per KW. Similarly, a small-sized residential solar system can cost less. Undoubtedly, this wide margin in installation costs of alternative energy does matter. This high upfront installation cost makes buyers think of it as a high risk of investment while investors find the nonrenewable energy resources worthier because of low installation costs.
But, Vista Electrical Controls offers solar installation at 0$ Upfront Cost.
Need for setup:
It’s a good decision to invest in wind and solar power when you consider their lifetime costs. Also, there’s a need for setup because, in the present situation, the infrastructure is specifically built for natural gases and nuclear energy plants.
Also, the existing setup built for energy solutions needs to be reformed because it’s not capable of managing a huge amount of alternative energy. Above all, a few energy resources are left without any infrastructure.
Another problem is the aging of power grids. The majority of the age-old power grids have surpassed 50 years of a lifetime making them unfit to fulfill the demands of critical climatic changes. Another important challenge is to select the suitable size of the PV system. In simple words, if the size of the PV system is too small, then subsequently, it’s hard to generate an ample amount of power and if the size of the system is too big, then it’ll need a big solar energy storage cell. Otherwise, the excess electrical energy generated might go to waste.
Energy Storage:
Another challenge is the lack of an energy storage system at a reasonable cost. Solar energy and wind energy generate the majority of the energy at specific times of the day. Sometimes, the amount of electricity generated doesn’t fulfill the energy requirements during the peak demand hours. Also, the unpredictability of the sunlight and wind can’t provide a power source as and when required. There’s variability in the power generation and also in energy loads.
When you compare power generation from coal or oil with power generation using alternative energy sources, the natural gases generate energy more consistently but the alternative energy resources need an effective battery storage system because the power generated is intermittent and the battery storage system helps in storing the excess energy produced by these power sources for later use. The energy storage system can help you cope with power grid instability, and preventing complete blackouts. Technological developments have improved the durability and storage capacity of an energy storage system. But the cost of storage systems is high, which stands in the way of being installed widely. Therefore the prices of energy storage systems should come down so that storing solar energy will become more cost-effective.
Domination of Non-renewable energy sources:
The current energy market is dominated by Non-renewable power sources and undoubtedly, this fact is an obstacle in the adoption of alternative energy sources. It’s required that solar, wind and other alternative energy sources should compete with the conventional fossil fuel industry.
Despite the fact that the government is providing rebates for solar energy, the fossil fuel industry also gets huge support from the government.
The Fossil fuel industry is blocking the adoption of alternative energy by disrupting weather conditions and alternative energy is the best solution to cope with global warming. Another fact is that the conventional sources of energy have been a part of our lives for a long period of time and eventually, it has its roots deep inside the country’s economy.
The image shows: The conventional sources of energy may limit renewable energy growth
Lack of knowledge and awareness about renewable energy sources:
People are reluctant to use renewable energy sources because of the lack of knowledge and awareness about it. Fossil fuel plants are a source of employment for the local citizens because it requires a lot of human power to run. Also, the property tax from fossil fuel plants supports the local community.
Lack of government policies, subsidies, etc:
The sustainable energy market needs strong government policies and legal proceedings which will help to attract investors and to strengthen the renewable energy market. Other challenges include – corporate lobbying, political pressure, etc.
Key Takeaways:
Human life has been affected by global warming to a great extent and adopting renewable power is the best solution to it. Because of the different government rebates and subsidies, the cost of renewable energy has decreased drastically and the price difference between them and the conventional sources of energy is not much. Definitely, these factors have helped renewable energy to capture a stable place in the energy sector.
More than two million Australians have been turned to residential solar systems due to a rise in electricity prices, a decrease in PV panel prices, and also a rise in the feed-in tariff rates. Thus, majority of the Australians are earning the advantages of solar energy.
