Economics : Manufacture Renewables to Build Energy Security
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Manufacture renewables to build energy security (John A. Mathews and Hao Tan) Student Name:Student ID: Subject Name:Subject ID: Date Due:Professor Name: Page |1
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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 detersale 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. Page |2
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. Page |3