Clean energy technologies: assessing advantages and risks

Abstract

Our society increasingly depends on power and fuel in daily life. This reliance encourages legislators and regulators to place the ongoing energy supply at a relatively low and fixed price – what is often referred to as energy security – as one of their most crucial policy goals. Contemporary research has already established that energy diversification (i.e., adding renewables to non-renewable sources) is remarkably beneficial to this objective. The main reason for this is that the different origin of energy is affected by different uncertainties and thus may remain stable when the conventional courses fail. This article aims to provide arguments for energy sources diversification. It explains why policymakers should encourage the development of specific clean energy technologies. Moreover, it assesses the advantages and risks of such a decision, and explores the involvement of the public sector in renewable technologies.