Recently, World Bank and IEA announced plans to spend more on renewables, as they think that enough money is not invested in such renewable source due to which industries often point out of having lower gains in their profit margins. So, IEA and World Bank came up with an alternative to spend more money in the renewable industries.
A source revealed that when both the banks decided to invest money at renewables, on the same day, Six Flags planned to place a large solar installation, which requires cutting down around 19000 trees. With this upcoming scenario, there is also one of the influential factors, named political factor, which is waning as a blind push for renewables leaves citizens cold, it may be wind farm off cape cold, or New Jersey’s solar plants, or planting biomass everywhere. It accounts that renewables are inclusive of intangible costs that supporters gleefully ignore, as they contemplate renewables to be righteous.
An organization named Greenpeace, waves off concern regarding birds’ death due to wind turbines. It argued by saying that wind farms are vulnerable and they kill birds and other species. Although, if environmental impact assessments are mannered in proper ways and local bird’s pollution and migratory patterns are assessed before constructing wind farms, then such arguments are eliminated. In fact, there are too many cleantech advocates that appear willingly to follow other Vietnam-era’s mentality by destroying their economic growth scale merely to preserve environment.
Though, there are many renewable advocates, who often keep on pointing out low prices in windy and sunny days, or high investments- allocated with a sufficient amount of subsidiary, and insist costs are declining gradually. Since from 2007, the average renewable installation costs had fallen to €5 per Watt (between €1-2 per Watt). This means, prior ventures are paying off as far as much lower installation costs are at present situation.
The picture perfect portraits that utility-level solar in sunny areas is almost competitive, compared to rooftop solar, and requires strikingly high costs or enormous subsidies for other renewable sources. Investing more in such renewables will not solve this issue, additionally more solar panels on rooftops will hike the expense at any rate- to the point- innovation will decline such expense factors.
Renewable advocates have already pre-defined a possibility, where a future generation solar cell will archaic all of the nuclear plants that are being installed in present date, rather, as LED lights are taking over from compact fluorescents. It means that most of the subsidies being paid out now will get wasted.