7 Crucial Steps to Follow in Renewable Energy Transition

Last updated on October 29, 2023

Here’s an overview of transitioning from traditional to renewable energy sources in the home building industry in seven crucial steps. Read on!

In 2021, four important markers of climate change—greenhouse gas concentrations, ocean heat content, sea level rise, and ocean acidification—broke new records.

This is another unmistakable indication that human emissions are having substantial and long-lasting effects on planetary-scale changes in the land, the ocean, and the atmosphere.

Ending human reliance on energy produced from fossil fuels, which is what causes climate change, is essential to solving this dilemma.

The UN Secretary emphasizes that renewable energy sources like solar and wind already exist today and are typically less expensive than fossil fuels and coal. They must now be put to work immediately, quickly, and in large quantities.

Make the Development of Renewable Energy a Universal Good

It will be crucial to reduce barriers to technology transfer and knowledge sharing, especially those relating to intellectual property rights, for renewable energy sources to be a global public good—meaning accessible to everyone and not just the wealthy.

The ability to store and release energy from renewable sources, such as solar and wind, is made possible by crucial technologies like battery storage devices.

According to these solar energy consultants in Seattle, these procedures and technologies contribute to greater energy system flexibility because of their exceptional ability to instantly absorb, store, and re-inject electricity.

Additionally, battery storage systems can offer dependable and less expensive electricity in off-grid settlements and isolated networks when combined with renewable sources.

Level the Playing Ground for Innovations Utilizing Renewable Energy

Domestic policy frameworks need to be quickly changed to streamline and accelerate renewable energy projects and spur private sector investments, even though international cooperation and coordination are essential.

There is technology, capacity, and money for a transition to renewable energy sources, but policies and procedures must be put in place to lower market risk, enable investments, and provide incentives – including by streamlining the planning, permitting, and regulatory processes and avoiding bottlenecks and red tape.

To do this, the area may need to be set aside in designated renewable energy zones to allow for large-scale construction.

Increased Availability of Raw Materials and Components Globally

It will be crucial to have more broad access to all of the essential parts and resources, from the minerals required to build energy networks and wind turbines to electric vehicles.

To increase and diversify industrial capacity globally, there will be a substantial need for international cooperation. Greater expenditures are also required to achieve a just transition, including those in people’s skill development, innovation, research, and incentives to create supply chains using eco-friendly methods that safeguard cultures and ecosystems.

Triple Green Energy Investments

To achieve net-zero emissions by 2050, it will take at least $4 trillion annually in investments in renewable energy through 2030, including expenditures on infrastructure and technologies.

This investment should pay off, though it won’t be quite as high as annual subsidies for fossil fuels.

The money is there; now we need commitment and accountability, especially from the global financial systems, such as multilateral development agencies and other private and public financial institutions, which must direct their lending portfolios toward hastening the transition to renewable energy.

Move Energy Subsidies Away from Fossil Fuels and Toward Renewable Sources

According to the analyses, $5.9 trillion has been invested in supporting the fossil fuel sector in 2020 alone. This amount included explicit subsidies, tax exemptions, and costs associated with health and environmental harm that weren’t factored into the price of fossil fuels.

Subsidizing renewable energy instead of fossil fuels reduces emissions while simultaneously fostering sustained economic development, job creation, improved public health, and greater equality, especially for the world’s poorest and most vulnerable people.

There Must Be a Multi-stakeholder Strategy

The energy transition is mostly the responsibility of individuals. A large coalition of private and public players is required to address the distinct region or sector carbon footprint and to provide a range of approaches that are economically, technically, politically, and socially viable in every region of the world.

Governments, companies, international organizations, NGOs, and academic institutions are some of these actors.

Realizing the Urgency of the Transition and Its Importance

The experience of prior energy transitions demonstrates that these changes take decades to complete rather than occurring instantly. The issue is how urgent it is and how much time is left to finish the current energy transition. The gravity of the situation is made clear by a thought-provoking idea dubbed the “carbon budget.”

The only way to prevent the worst consequences of climate disruption is to make a swift transition to an economy powered entirely by renewable and clean energy sources. And pursuing sustainable energy alternatives ought to be our top goal. So, the measures to take to accomplish that precious thing are listed here.