The Future For The Expansion Of Renewable Energy Essay

The Future For The Expansion Of Renewable Energy Essay

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Oxford University researchers predicted a substantial growth in green energy in the next ten to fifteen years to come. This will result in a large decline in the need for fossil fuels. This change is much needed and there is not a better time than now for our country to take the initiative and switch to renewable energy sources. However, the largest renewable energy company in the world just filled for bankruptcy. Is the future for the expansion of renewable energy looking bleak? The answer is obvious. Renewable energy is not implausible but far too expensive in many aspects to compete with massive fossil fuel industry. Despite the fact there is more than enough energy to capture, we have yet to develop the capability to effectively and economically capture and store renewable energy.
Joseph Aldy, a professor of public policy at Harvard University, states that there are several challenges holding back renewable energy growth. An increase in fracking has lowered the cost of natural gas drastically. This in terms has created less of a demand for other sources of energy such as solar or wind. Aldy notes that imposing a carbon tax could increase the demand for renewable energy, but until there is a larger demand for renewable energy, there won’t too much growth. Essentially, public policy professor, Joseph Aldy, believes we have yet to switch to renewable energy because natural gas is far too conveniently cheap to produce, despite it 's hazards to the environment.
Renewable energy is also made intentionally expensive by the fossil fuels industry. Katie Ottenweller, a leader of the Solar Initiative at the Southern Environmental Law Center, claims that utilities are blocking solar growth. This occurs because Utility co...

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...bsidies for oil and gas industries. If we were to eliminate fossil fuels and put the money that goes towards large subsidies for the fossil fuel industry towards solar power, it wouldn’t be so expensive.
Additionally, renewable energy is expensive in other aspects. Renewable energy is a threat to the fossil fuels industry. Millions of dollars are spent every year by lobbyist in Washington to prevent the expansion of renewable energy. The Fossil Free MIT organization claims, “The fossil fuel industry spends hundreds of millions of dollars lobbying and donating in Washington, D.C. against legislation for climate change action”. This legislation includes the expansion of renewable energy. The efforts by the fossil fuel industry and lobbyists in Washington to limit renewable energy are very costly and keep renewable energy unaffordable to the general U.S. population.

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