Why does the development of renewable energy need government support? by Yishun Peng

Yes

yp400 — 2023-11-13 01:50:53 UTC

renewable energy need government support

Renewable energy vs. non-renewable energy

yp400 — 2023-11-13 01:50:56 UTC

Hindrance and trouble

yp400 — 2023-11-13 01:50:58 UTC

Problems encountered in the process of development.

demand and supply

yp400 — 2023-11-13 01:51:00 UTC

Role of government:fund and polices

yp400 — 2023-11-13 01:51:04 UTC

What role did money and policy play？(What does the government get)

Financial support to promote investment in renewable energy.

yp400 — 2023-11-13 01:51:27 UTC

Financial support from governments, international organizations, and the private sector can reduce the initial investment costs of renewable energy projects and make them more attractive. This includes support in the form of subsidies, low-interest loans, tax incentives and grants. These funds can be used to build infrastructure such as solar panels, wind turbines, hydroelectric power stations and so on, thus accelerating the deployment of renewable energy.

Policy formulation incentivizes renewable energy development.

yp400 — 2023-11-13 02:00:35 UTC

By developing policies and regulations that support renewable energy, such as renewable energy standards, emission limits, and green certificates, governments can encourage businesses and individuals to adopt renewable energy. These policies can provide market stability and reduce risk, thus attracting more investors and developers into the renewable energy sector.

Reduce environmental impact

yp400 — 2023-11-13 02:05:47 UTC

Policy support for renewable energy can help reduce greenhouse gas emissions and air pollution, improve environmental quality, and protect natural resources. This is essential for mitigating climate change and improving the quality of human life.

Job creation

yp400 — 2023-11-13 02:05:51 UTC

The construction and operation of renewable energy projects creates a large number of jobs across a variety of skills and fields, including engineering, manufacturing, maintenance, and research and development. This helps increase employment, technology improvement and economic growth.

Resource shortage and people's needs

yp400 — 2023-11-13 02:05:54 UTC

The dramatically increasing population of Asia necessitates equally as dramatic increase in energy supply to meet demand. According to the United Nations Population Fund (UNFPA), the Asia-Pacific region's population, which is about 4 billion now, will rise to 5 billion before leveling off around 2050. With a population growth rate of 1.4% per year, India is expected to surpass China, which is growing at the rate of 0.7% in less than 20 years (United Nations, 2009). Between 1999 and 2009 the total energy consumption increased by 4.2% per year in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam (Sovacool, 2009). Bangladesh is severely power-stressed with a supply below 4000 MW against demand of 5569 MW (Ahiduzzaman and Islam, 2011). Similarly, Nepal faces long hours of power cuts throughout the year due to 350 MW to 750 MW gap in power demand and supply during wet and dry season, respectively.

Problems encountered by renewable energy

yp400 — 2023-11-13 02:26:46 UTC

1.Coal remains the primary fuel source in most of these counties.

2.Need government intervention.

3.The cost of technology is very high.

4.An uneven playing field.

5.Institutional barriers such as lack of financial institutions to support RET, lack of sound legal and regulatory frameworks, and lack of adequate fiscal incentives.