The advantages of renewable energy are numerous, and many people live and run businesses with a smaller carbon footprint thanks to alternative energy. It’s something I’ve been talking about for years — long before it became “trendy.”
Any major overhaul of a city’s or country’s infrastructure takes decades, though, so we can’t expect alternative energy sources to take over for fossil fuels right away. There will be a gradual but steadily increasing reliance on wind and solar power, among other sources.
If you’re interested in oil investing, as I am, you might wonder why I talk so often about the advantages of renewable energy. I’m going to clear that up today and share with you my thoughts on alternative energy sources.
What Are Alternative Energy Sources?
An alternative energy source is a provider of energy that doesn’t damage the environment or consume finite resources. More specifically, it’s a type of power that doesn’t require nuclear power or fossil fuels.
We’ve known for a long time that burning fossil fuels isn’t the only way to provide climate control, fuel power outlets, or run appliances. However, building the infrastructure necessary to power an entire city or larger area with alternative energy sources is an enormous undertaking.
While it’s important to know the advantages of renewable energy, you also have to realize that deploying those sources won’t happen overnight. Municipalities must raise money, get projects approved, gain public buy-in, and more.
The more we make ourselves aware of alternative energy sources and use them when they’re available, the more commonplace they will become. It’s also important to understand that all energy sources have pros and cons. Even though alternative energy sources might be cleaner, as I’ll explain below, they aren’t always perfect solutions.
What Types of Alternative Energy Sources Exist?
There are three main types of alternative energy sources: wind, solar, and hydro. Each of these alternative energy sources provides power without depleting our world’s natural resources. That’s because they renew themselves.
Wind power comes from turbines that convert the energy from wind into power. Wind is extremely beneficial because turbines don’t take up too much space and can exist on land that’s used for other purposes, such as raising livestock or planting crops.
The advantages of renewable energy like wind make them highly desirable, but wind isn’t always reliable. Some days, the air is almost completely still, and on those occasions, turbines can’t produce power.
Solar power is slightly more complicated, but also more practical for homeowners and businesses. You can install solar panels on the roof of your home, for instance, to take advantage of the energy that comes from UV light.
They’re expensive, though, so they’re not widely available yet. Additionally, you need a certain type of roof that faces in the right direction for solar power to work efficiently. Without adequate sun exposure, solar panels can’t produce enough energy to power a home, much less a large office building or industrial complex.
There are certainly advantages of renewable energy, but the drawbacks keep them from being universally accepted. In the case of solar power, some parts of the world endure significant cloud cover, which makes depending on solar power unrealistic.
Then you have hydropower, which refers to power generated by the flow of water. Hydroplants produce energy through dams that can control the flow rate. Water is another renewable energy source that we haven’t fully tapped, but hydroplants are extremely expensive to build. Additionally, parts of the world that don’t get much rain wouldn’t be able to take advantage of it.
What Are the Advantages of Renewable Energy?
As mentioned above, there are many advantages of renewable energy that we can consider. When you’re educated about how alternative energy sources can benefit us and our environment — in addition to our wallets — you can make educated decisions when contributing to public policy or voting with your dollars.
Let’s look at some of the most powerful advantages of renewable energy.
Reduced Depletion of Finite Resources
Finite resources like fossil fuels will eventually run out. The world has a limited supply of these resources, meaning they can’t be regenerated, and depending on them to fuel our future isn’t practical.
No, we aren’t going to run out of fossil fuels in the next 10 years, but we have to think well beyond that time frame. The advantages of renewable energy include the ability to depend upon our energy sources for millennia to come.
For one thing, our energy usage continues to grow as we build more homes, businesses, and industrial buildings. There’s no definitive estimate for when we’ll run out of fossil fuels, but Coop Energy estimates that if we don’t find new sources of fossil fuels, we’ll deplete them by 2060.
Using other energy sources, such as coal, can extend our supply of fossil fuels. However, there’s no question that those energy sources will eventually run out. That knowledge makes the advantages of renewable energy much more compelling.
Nuclear power plants and similar operations consume considerable energy, produce lots of pollution, and reduce the quality of life for those who live near them. They’re also dangerous.
Most of us have heard about the Chernobyl disaster in 1986, but many other nuclear accidents have taken place, including one in Japan during the 2011 earthquake. While these accidents are few and far between, they cause the loss of human life as well as the release of radiation into the environment.
Power plants that convert fossil fuels into energy are extremely expensive to maintain. That’s why we see the price at the pump fluctuate so frequently — and why oil investing is such an incredible opportunity.
Depending on the oil and gas industry’s profitability, oil costs go up and down. Oil companies have to constantly search for new sources of fossil fuels as they deplete one site and move on to the next. Drilling and fracking equipment and other major assets cost millions of dollars in aggregate, so the costs keep increasing.
The advantages of renewable energy often include reduced maintenance requirements. While building a hydroplant, for instance, can take a huge amount of money, it doesn’t cost as much money to run it once it’s built.
One of the main advantages of renewable energy is that it contributes to a healthier environment overall. Wind turbines and solar panels cause very little disruption to the environment, if at all, and hydroplants aren’t nearly as destructive as nuclear power plants.
By reducing our carbon footprints, we can rescue our environment from pollution and damage. While human habitations undeniably create disruptions, whether we’re cutting down trees or destroying animal habitats, we can reduce those disruptions by relying more on alternative energy sources.
Healthier Humans and Animals
Both humans and animals can benefit from alternative energy sources, especially when it comes to health. Air pollution can contribute to respiratory issues, cancer, cardiovascular damage, allergies, and more. This is true for both humans and other animals.
In fact, air pollution from all sources can be traced to 7 million human deaths every year. That’s pretty terrifying.
One of the most significant advantages of renewable energy is that we can reduce pollution and help people and animals live longer, healthier lives.
What Does Renewable Energy Have to Do With Oil Investing?
Now that we have examined the advantages of renewable energy, what does it all have to do with oil investing?
If you’re interested in investing in oil, you can take advantage of both long- and short-term gains. Oil companies are competing against one another to extract the most dollars from the earth as well as from the end consumer. They profit numerous times along the way as they turn fossil fuel into energy for our homes.
As I mentioned above, just because there are lots of advantages of renewable energy doesn’t mean we’re going to be fully reliant on wind and solar in the next decade. Such shifts take time. While we’re campaigning for alternative energy sources, we can make money off oil investing. That’s what I teach my subscribers to do.
If you’re concerned about the environment, I understand. We should all worry about the potential for pollution, environmental disruption, nuclear disasters, and other problems associated with using non-renewable energy.
That’s why I try to educate as many people as possible about the advantages of renewable energy. If we embrace these sources, we can help mitigate the damage in the future.
But that doesn’t mean I’ll stop profiting from oil investing. The market continues to function whether or not you profit from it, so you might as well start building your wealth. Join my Energy Inner Circle publication to learn more about oil investing and how it can help you build a more financially secure future.