Alternative Energy: An Introduction

Amidst galloping oil prices and concern about the potential impact of fossil fuels on the environment, alternative sources of energy are garnering increased attention in the recent past. Moreover, the impact of the growing demand from countries like India and China will be responsible for the future changes in the global oil demand against finite and depleting oil resources. With the global oil production expected to peak around the year 2010-15, it would result in a major crisis for the global economy, if preventive measures are not taken earnestly. Against this, oil consuming nations with their voracious appetite for energy only accentuate the need for developing and using alternative sources of energy that are clean and help to keep the environment green. Surely, green energies will play a progressively more important role in the future energy mix of most countries. Though alternative energies have huge potential, their growth, so far, has been hampered due to various reasons. Some of the major barriers include distribution challenges, lower scalability, international trade barriers and powerful oil lobbies along with relatively higher production costs etc. Against these drawbacks, the alternative energy industry has to increase R&D investments to lower the production and distribution costs, while ensuring that the consumers have a smoother transition towards using alternative energies for all their needs. The days are not far off, when the world’s energy consumption would be shifted significantly toward alternative energy. Against such a background, this book addresses the present global energy crisis scenario, environmental hazards, and the need for alternative energy. It also highlights the challenges and drawback to shift towards alternative energy. Finally, it addresses the future of alternative energy.