The Top Three Challenges Facing Green Technology

First, any new technology needs massive funding for research and development

. The money will not only be used to fund the energy research project itself, but also the means to deliver the energy and use it efficiently. Thus, the gathering of financial resources will be a gigantic and on-going process, something that becomes particularly difficult during times of financial crises, like today.

Suppose the most efficient and most environmentally friendly fuel was discovered and developed. After this, necessary delivery infrastructure should be constructed so that this new kind of energy can be transmitted to consumers. Furthermore, machinery that is being used not only in industrial processes and also in homes should also be able to utilise this new energy source.

Second, the birth of a new industry usually means the death of another. Thus, corporate interests certainly come into the picture. Today, more than a fourth of all of the world's electricity production is from renewable energy resources like wind turbines and geothermal power plants. Thus, the need for traditional fuel coal and other petroleum derivatives goes down.

Businesses who have been in place for many years, whose main reason for being such corporate giants is due to petroleum, will surely find ways to subtly slow down, if not postpone, the demand shift. The cost of realigning and recalibrating machinery can amount to billions of dollars, something that stockholders will easily frown upon, as it infringes upon the amount of their yearly dividends.

Lastly, an enormous number of government contracts in developing countries have to do with using petroleum and other non-renewable energy sources. For example, look at the pipelines. These infrastructures, at best, were constructed via build-operate-transfer contracts which take decades to be completed. Suppose green energy gets into the picture, what will the national governments do with these prospectively cataclysmic financial ventures?

The world needs a unified stand towards shifting to renewable or green technologies. However, their first attempt, the 1997 Kyoto Protocol, ended in vain. So far, no new consensus has been made. Actually, there was no consensus to begin with.

The Top Three Challenges Facing Green Technology

By: Sammi Jonesman

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