Dummy Diesel
Economics of Renewable Sorces of Energy
ECONOMICS OF RENEWABLE SOURCES OF ENERGY
Energy and economics are two of the terms that have always ruled the world. Today also we find that with the over exploitation of the traditional sources of energy, the economics of many Countries has been distressed. Now with many complications and the issues attached therewith every one is talking about the renewable sources to be a good option of the Energy requirement in the World.
As is clear to all of us that much has to be done in this direction, but the concern should be of the Economics too for this change. Today the classification of these sources is very easy and widely present. That which can be used again and another time is what we call as renewable. There are certain sources of energy too which can be used likewise without the danger of their depletion. Now with the advent of newer technology and expansion in the working of the Governments it has been thought that one should opt for those energy sources that can be depleted easily and at the same time with general ease of the common men.
Now there are many such energy sources are present. But the most important thing attached with these is the Economy of the country. There are few such issues which need to be pondered.
v The Replacement of the existing machinery used to deplete the Non renewable energy sources.
v The investment part for the utilization of the renewable sources of Energy.
v Availability of these energy sources.
v Efficiency & proper consumption of these sources.
Let us first find out what are the different renewable sources of Energy. The abundant availability of few Natural resources like Water, Air, Sunlight, Radioactive Materials, Biomass & different variety of Fauna make them a good source of energy. Now it depends upon the proper exploitation of these, that any Country can excel with its energy requirements.
As we all know that abundance and dependence are inversely proportional but by the careful and proper use of the same can the saying be reversed. If this was the thing then no problem could ever come but again with the use lays the consideration of the Economic input. Are we really that much efficient to get these resources converted to the mass use of different Economies?? This could be a Million Dollar Question! Well let us find out what are the possible hurdles in the way of these and what are the possible remedies.
First of all main problems with the Renewable Sources are their availability freely. That is to say that it is true in it self that they are present without restraint but at the same time we can not extract them when we want. It is that if need Petrol or Coal we can deplete them whenever we want but not to the Air or Water. For them we have to wait for the nature to aid in or to say wait till there is abundance to deplete them. Same thing lies to the Sun light or to the radioactive materials. This is very crucial thing that is unanswered even today.
Secondly there need to be deployment of much bigger machinery to support the utilization of the Natural resources. We would be requiring big areas for its installation and along with that there need to be input from the infrastructure also. Next to this is requirement of the experts who can make the operation of these easy. Infrastructure for the proper use of the Nature would again be a major concern, as we find that it will be totally different from that we are using from a long time. That will take time to complete and also that it could not be done overnight. Hence this factor also needs to be materialized as early as possible.
Thirdly at initial stage it will be very expensive to set all the necessary input for the proper initializing of the process. Whether our country is ready for all this or not, is a matter of fact. This would again require the attention of the Economist to take care of. For any such country which is not very economically sound need to ponder on this matter too. As per data’s the use of Natural resources is many times expensive to the existing fossil fuel costs.
Fourthly regarding the biomasses or the use of Fauna…that is for the purpose of Bio-Diesel, one need to have large portion of land to be used. This will again going to create problem as we find that there is increase in the population of our country every day. For them we require to have abundance of the Food grains. In addition to that the Land is limited. How one is going to take care of this is a difficult question to answer.
Fifthly one find it is not very safe to manage with the environmental matters. That is to say the exploitation of the Water or Nuclear energy is not very safe every time. For the later we find that the treatment of the effluents could be a major problem. Also with the water harvesting many of the parts of the country would become prone to earthquakes. Thus the environment will become very unstable thereof.
Along with this there are many other issues attached there with but for which we have to find the answer out. And that too very amicably to satisfy all the ends of these problems. Let us find out few possible answers to these questions. First of all when we have already decided to switch off to the renewable sources of energy, one should start as soon as possible to the testing of the efficiency of these sources of energy. That can be initialized at the smaller level first. Secondly we should start the collection of the funds necessary for the setting up of the infrastructure. This can be done by either sparing a portion of the tax collection done or can be planned by the drawing up of the funds in that direction.
Next step could be eco-energy planning for the same. We can have some dummy projects to be operated at different parts of the country in the controlled situation to test the veracity of the mega projects. Several government machinery could be supportive in this cause. The most important thing here to be noted is to get the proper attention as soon as possible over these issues to sort out the problems fastly.
In conclusion it can be said that to use the Natural resources is an easy task but to manage with the economics is a difficult one. Although together we can and we will settle these problems and could also resolve the same.
About the Author
Author is Lecturer at University of Petroleum,Dehradun.
Auhtor of one book and writing second is researcher and person of scientific temprament.
Dummy Diesel
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What are some independent variables to determine gas prices (dependent variable) in the U.S ?
I came up with an independent variable on prices of substitutes such as the price of diesel fuel and substitutes of alternatives such as fuel cells in production. I also have 3 dummy variables which are unusual weather, 2 seasons (winter, summer probably), and middle east issue such as if there is a war during that time. I would like some help to see what more independent variables i can work with and can easily obtain the data. Oh yeah and this would probably be on a national bases. Thanks people
The price of crude oil.
OPEC production.
The number of automobile sales.
Interest rates.
These are just suggestions. If you are doing an imperical study then it wont hurt to plug these variables in to see if they are worth keeping. You should check the Dept. of Energy website for ideas.
Good Luck