The cost of electricity continues to escalate.
Fossil fuels make up more than 80 percent of global energy consumption. With the rising cost of fuels, our economies spend billions of dollars each year to produce electricity. Dependence on fossil fuel imports often poses challenges related to geo-politics, price fluctuations and supply disruptions. In addition, climate change due to increased levels of greenhouse gases from the use of fossil fuel has also become a global concern.
So, what are the clean alternatives to generating electricity?
The solution lies in the provision of sustainable, clean and safe energy that meets present needs without compromising the needs of future generations. Renewable energy sources, such as hydropower, solar power, wind power, biomass energy and geothermal energy, are crucial in meeting the power demand required to support economic growth and improve in living standards. Increasing the share of energy from renewable sources can reduce greenhouse gas emissions and local pollution; and mitigate fuel price volatility.