Across the developing nations, using alternative energies to compensate for electricity is the only choice. Unfortunately, these typically take the unsafe and costly forms of kerosene, wood, candles and dung, used for lighting. Governments fail grimly in their effort to dish out current energy solutions everywhere.
1.4 billion people worldwide are still short of electricity access, declares the International Energy Agency. These people belong to rural areas in extremely poor countries. Only 1 out of 7 rural population of Sub-Saharan Africa have access to electrical power, and many depend on kerosene for lighting, sources that are 5% of the worldwide energy supply. This partial reach of modern energy cause severe accidents, like burns and death by wooden stoves. Moreover, there’s a pollution that’s to blame for 1.5 million deaths/year. These fuels are inefficient to produce usable energy.
Why do poor people rely on old technologies? This is because governments concentrate on providing electricity to a selected few rather than many. Government subsidized agencies can’t even perform basic operations or maintenance, let alone build an infrastructure to provide green energy to the rural population. Rural areas could advance faster if they had access to cheap electricity by green energy sources.
Along with deficiency of grimy power plants belching out CO2, there’s a silver lining. Many of the poorest countries are demanding energy in the greenest and the cleanest form.
The scenario is changing. People are foregoing traditional fuels and heading straight for clean energy. Just as some developing nations seem to skip the landline phones totally and embraced cell phone, so is their wish to grip renewable energy solutions. Billions of people are poised to make a switch to sustainable energy sources. like wind, biomass, solar, hydro.
The point is to make sustainable energy an inexpensive option. Techniques to obtain off-grid energy from sustainable sources are coming to these energy-deficient nations. Solar lanterns that utilize solar cells to charge the batteries and LED light are now obtainable at $20 or less. And entire solar panels cost about 40% less than they did two years ago.
The cost of a panel is $300, the cost of yearly kerosene supply. The panel can power up numerous LED lights. This makes green energy a remarkable option in developing countries. David Wheeler from the Center for Global Development states that India has plans in the pipeline to generate no less than 15% of its energy by 2020 from renewable sources. IPPC also implies that renewable energy might be delivering around 80% of the globe’s power by 2050.
Role of Selective Financial Services
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