Economics : Manufacture Renewables to Build Energy Security

Manufacture renewables to build energy
security
(John A. Mathews and Hao Tan)
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Introduction
With application the Kyoto Protocol leading industrialized nations had aimed at installation of
renewable source of energy and diverting away from fossil fuel (Sovacool, 2014). China though
a country leading in carbon footprints, has also been leading in recent years in devising and
installation of renewable sources of energy productions as solar, wind and sun. China has been
building industry manufacturing renewable energy installations. Many Westernized nations have
imposed various taxes and legislations to deter sale of Chinese products but such steps has
deterred moving towards renewable energy.
Analysis
Rising scale of usage of renewable energy has forced market affordability and accessibility
towards efficiency. Chinese rapid industrialisation and trade expansion post joining of WTO has
led the country to diminishing its usage of fossil fuel (Mathews, 2014). China has installed wind
turbines, solar photovoltaic cells, batteries, mirrors and energy storage systems productions.
South Korea has also committed itself to ‘green growth’ with expansion on zero-emission
vehicles. China’s focused investment drive and industrial drive is the key to success for
achieving economies of scale and efficiencies through driving unit costs expansion. The country
has been able to overtake US and other developed countries in its renewable energy expansion.
Its growth is further led by economies of scale with implementation of policies to increase
investment in the sector. Governments of countries needs to focus more on policies that aim at
carbon reductions to build a strong renewable sector through which they can attain reductions in
carbon emissions.
Conclusion
Major hindrances I scaling up production of renewable energy sources comprise of subsidizing
of fossil fuels. There need for private finances for boosting overall infrastructure present for the
purpose of scaling and facilitating investment in the domain. China is leading in a manner by
mass scale production and market growth of renewable energy by driving costs down to make
wind, solar and water power available to all.
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Reference Lists
Mathews, J. A. (2014). Manufacture renewables to build energy security. Nature, 166-168.
Sovacool, B. K. (2014). Cornucopia or curse? Reviewing the costs and benefits of shale gas
hydraulic fracturing (fracking). Renewable and Sustainable Energy Reviews, 249-264.
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