Alternative energy: Environmental and economic factors associated with renewable energy and creating new integrated energy management systems

Abstract

AbstractAt best, the future of alternative and renewable energy remains uncertain. Our dependency on fossil fuels is already depleting world supplies of coal and petroleum while increasing greenhouse gas emissions. Most assuredly, the ability of alternative energy, described in this article as biomass, hydrogen, wind, solar, and geothermal power, to compete and even integrate with fossil fuels will depend on several important variables: First, developing, as well as developed, countries must be willing to direct long‐term public and private funding towards innovative energy technologies by increasing research and promoting public education. Secondly, the “bottom line” economics associated with alternative energy technology must clearly show a positive cost/benefit ratio. Revenues and not deficits are paramount to the sustainability of alternative energy. Lastly, many experts argue for the environmental benefits of alternative energy by way of carbon reductions. The 1997 Kyoto Global Warming Treaty requires the United States in particular to reduce carbon dioxide emissions from fossil fuel burning by 7 percent below 1990 levels. While many experts argue that reactions to global warming and the alternative energy benefits anticipated because of them are fiscally irresponsible and not worth the billions of tax dollars intended, we can be assured that a business‐as‐usual attitude will continue without increased government and public support.© 1999 John Wiley & Sons, Inc.