Implications for the Society of Relying on Renewable Energy
As a society, we must alter our consumption habits. This requires a transition to renewable energy sources . However, there are drawbacks to switching from nonrenewable to renewable energy sources. These include capital expenditures and the unpredictability of renewable energy. The impact on the economy is one of the most significant societal implications of relying on renewable energy. Renewable energy can increase GDP, improve welfare, and support millions of jobs. It also reduces emissions of greenhouse gases. In fact, according to a recent study, transitioning to 36% renewables by 2030 could increase global GDP by 1.1%, improve well-being by 3.7%, and support over 24 million jobs in the industry. However, excessive reliance on wind and solar energy has had adverse economic effects in some regions. These jurisdictions have attempted to increase generation from these sources in order to meet peak demand on days with little wind and thick clouds or on calm nights when their own coal a...