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Carbon emissions are the primary contributor to global warming. Many efforts have been made to increase its use. Nevertheless, the cost is a significant factor influencing its adoption. The high initial cost of installation is one of the roadblocks to its development.
Fremont, CA: The renewable energy industry faces numerous challenges. Political pressures, government policies, corporate influence, ageing infrastructure, a lack of a proper battery storage system, and the current market scenario all stand in the way of widespread adoption.
Despite these factors, renewable energy has gained widespread acceptance as a means of mitigating climate change. It has no direct pollution or carbon emissions. It is the most viable alternative to fossil fuels. With the passage of time, it is becoming an unavoidable component of the energy production mix.
The Hefty Charge for Installation
Carbon emissions are the primary contributor to global warming. Many efforts have been made to increase its use. Nevertheless, the cost is a significant factor influencing its adoption. The high initial cost of installation is one of the roadblocks to its development.
Solar and wind energy are the most affordable of all energy sources. The upfront installation costs of a solar power system and a gas-fired plant, on the other hand, are vastly different—large-scale solar power system installation costs around $2,000 per kilowatt. Similarly, a small-scale residential system costs around $3,700, and a new gas-fired plant costs $1,000 per kW. The wide margin in installation costs is undeniably important. Because of the high upfront installation costs, investors and lenders consider renewables to be high risk, whereas fossil fuel plants are more acceptable due to their low installation costs.
Lack of Good Infrastructure
Wind and solar energy can be better investments when lifespan costs are considered. The lack of infrastructure is a barrier to the development of renewable energy. The current infrastructure is primarily designed for fossil fuel and nuclear power plants.
The current energy infrastructure requires immediate reform because it is incapable of handling large amounts of renewable energy. Most importantly, some of its most important sources have no infrastructure at all.
The primary issue with the power grid is its age. The majority of electric transmission and distribution lines were built in the 1950s and 1960s. It has outlived its 50-year lifespan. As a result, they are unable to meet the demands of the hour and the severe climatic changes.
Choosing the size of the solar system is a difficult task. Energy generation will be difficult to build if the system is too small. If the solar energy system is too large, a large energy storage system is required. The energy generated will be wasted unless a high-capacity storage system is installed.
