Renewable energy has been touted as the solution to the current global energy crisis and the way forward for sustainable development, With the recent removal of fuel subsidy in Nigeria, renewable energy is seemingly the best option.
Renewable energy is derived from sources that are naturally replenished and never run out, like sunlight, wind, and water. These sources of energy have been used by humans for centuries, but it is only in recent times that renewable energy has begun to be harnessed and exploited on a large scale. The advantages of renewable energy are many, and they include environmental, economic, and social benefits.
Environmental Advantages
Renewable energy is regarded as a cleaner, less polluting, and less hazardous source of power compared to non-renewable forms of energy like fossil fuels, which emit harmful gases, particulate matter, and other pollutants into the atmosphere. Renewable energy sources like wind, solar, geothermal, and hydroelectric power do not produce greenhouse gases, which cause global warming, acid rain, and other environmental problems that have a significant impact on the health and well-being of both humans and animals alike. Renewable energy also reduces dependence on fossil fuels, which are finite resources and are susceptible to price volatility, supply interruptions, and geopolitical risks.
Renewable energy is abundant and decentralized, which means that it can be generated and distributed closer to the point of consumption, thus reducing the need and costs associated with long-distance transmission lines and the loss of energy during transmission. Renewable energy sources like solar and wind can be installed on rooftops and in remote locations, making them accessible to even the most rural and underdeveloped communities, where conventional forms of energy are not available. Renewable energy is also modular and scalable, allowing it to be adapted to meet the energy needs of both large and small businesses and households.
Economic Advantages
Renewable energy is a fast-growing sector of the global economy and is projected to surpass non-renewable energy in terms of investment and installation in the years to come. Renewable energy creates jobs in a wide range of sectors, from research and development to manufacturing, installation, operation, and maintenance. Renewable energy also reduces the cost of energy over the long term, as it is a free source of energy that does not require any fuel costs or price volatility associated with non-renewable energy sources.
Renewable energy also protects against price volatility and supply disruptions associated with non-renewable energy sources, which are subject to geopolitical and economic shocks that can drive up prices and reduce availability. Renewable energy reduces energy bills for households and businesses, allowing them to direct resources towards other priority sectors of the economy. Renewable energy also reduces the likelihood of energy poverty, which affects over a billion people globally and exacerbates inequality, poverty, and socioeconomic disparities.
Social Advantages
Renewable energy provides access to energy for underprivileged people who lack access to modern forms of energy. Renewable energy sources like solar and wind can be installed in remote areas where conventional energy grids are not available, providing electricity to rural communities and improving their standard of living. Renewable energy also provides energy security, reducing dependency on imported fuels and increasing the resilience of energy systems in times of natural disasters or geopolitical and economic shocks.
Renewable energy sources like solar and wind can also be used to power schools, hospitals, and other public facilities, which enhances access to education, healthcare, and other social services in underprivileged communities. Renewable energy contributes to mitigating the negative impacts of climate change, which have significant social implications for vulnerable populations, including children, the elderly, and marginalized groups like women and indigenous people.
Renewable energy is the future of sustainable development and is key to achieving the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015. Renewable energy provides environmental, economic, and social benefits that contribute to the long-term well-being of both present and future generations. Renewable energy is an inclusive and equitable approach to energy development that prioritizes the needs of the most vulnerable and underrepresented populations and builds resilience in the face of emerging challenges like climate change and energy insecurity. Renewable energy is an investment in the planet, people, and prosperity, and it is essential for achieving a sustainable and just future for all.
