It contributes about 20% of global energy consumption. The
energy sources are basically hydro, bio-fuel, solar and wind power.
Advantages
of Renewable Energy
There are many advantages to investing in renewable
energy. The power source provides energy efficiency, climatic change mitigation
including energy security.
The natural process is constantly replenished and
considered clean energy. It provides technology diversity of energy resources
for many countries.
Other advantages include reduced pollution, environmental
degradation and reduced mortality. Other benefits of renewable energy are
simple solutions for rural dwellers and people living off the grid.
- Energy efficiency
- Climatic change mitigation
- Energy security
- Constantly replenished
- Clean energy
- Reduced pollution
- Reduces environmental degradation
- Simple Technology solutions for rural dwellers
Types
of Energy Sources
The energy sources are derived from natural process. Types
of energy harnessed by energy companies include ocean, sea, sun rays and bio-gas. Others are heat generated deep within the earth, hydrogen, and geothermal
resources.
- Ocean
- Sea
- Sunlight
- Bio-gas
- Earth
- Hydrogen
- Geothermal resources.
How Renewable
Energy Works
The energy is used for power generation, transportation
and heating. Ethanol is produced from feedstock while Bio-ethanol is derived
from fermentation of crops rich in carbohydrate, sugar and starch.
The ethanol is used as fuel for vehicles or as a diesel
additive. Solar is also used to power experimental solar cars and machinery. Electrical
power generation is applied to machinery and light.
Renewable
Energy and Technologies
Solar
Energy
Solar energy is powered by the sun and used to generate
electricity. The technology converts sunlight into electrical energy through
the aid of photovoltaic cell, boiler or mirror. Common technology includes solar water
heaters, micro parallel inverters, photovoltaic modules and solar cells.
Wind
Energy
Wind energy is harness and used to generate electrical
energy and pump water. Technology includes wind mills, wind farms and turbines.
Related Starting a Thermal Power Plant
Hydro power
Hydro power energy generation powers 17% of world electrical
energy requirements. The power is harnessed through hydroelectric dams, small
hydro systems.
Biomass energy involves burning of wood and produces
harmful carbon monoxide gases. Biomass fuel is used to generate electricity and
production of methane.
Geothermal
Energy
Geothermal power stations use thermal energy to produce electricity.
Thermal energy is formed from the planets matter. The heat energy is harnessed
by thermal stations and hot springs.
How
to Become a Renewable Energy Entrepreneur
Choose
a Niche
Renewable energy sources are numerous so you need to
determine your niche. Focus on one source of energy and buy or develop
technology. Profitable areas are heating and electrical energy generation.
Purchase
Equipment
Purchase applicable equipment in line with your business
template. Common equipment’s are inverters, solar panels, batteries and
machinery.
Funding
The amount of money depends on your business plan and
budget. Source funds through targeted savings, bank loans or borrow from
friends and family. You need funds for rent, staff wages, equipment and
marketing.
Marketing
Target your customer demography through advertisements
and online resources. Use newspaper advertisements, print and radio.
Build a website
and include images, services and contact address. Add an email address, phone
number, about us page and products.
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