• 2 hours EIA Weekly Inventory Data Due Wednesday, Despite Govt. Shutdown
  • 6 hours Oklahoma Rig Explodes, Leaving Five Missing
  • 8 hours Lloyd’s Sees No Room For Coal In New Investment Strategy
  • 11 hours Gunmen Kidnap Nigerian Oil Workers In Oil-Rich Delta Area
  • 13 hours Libya’s NOC Restarts Oil Fields
  • 14 hours US Orion To Develop Gas Field In Iraq
  • 3 days U.S. On Track To Unseat Saudi Arabia As No.2 Oil Producer In the World
  • 3 days Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan
  • 3 days Schlumberger Optimistic In 2018 For Oilfield Services Businesses
  • 3 days Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
  • 3 days Statoil, YPF Finalize Joint Vaca Muerta Development Deal
  • 4 days TransCanada Boasts Long-Term Commitments For Keystone XL
  • 4 days Nigeria Files Suit Against JP Morgan Over Oil Field Sale
  • 4 days Chinese Oil Ships Found Violating UN Sanctions On North Korea
  • 4 days Oil Slick From Iranian Tanker Explosion Is Now The Size Of Paris
  • 4 days Nigeria Approves Petroleum Industry Bill After 17 Long Years
  • 4 days Venezuelan Output Drops To 28-Year Low In 2017
  • 4 days OPEC Revises Up Non-OPEC Production Estimates For 2018
  • 5 days Iraq Ready To Sign Deal With BP For Kirkuk Fields
  • 5 days Kinder Morgan Delays Trans Mountain Launch Again
  • 5 days Shell Inks Another Solar Deal
  • 5 days API Reports Seventh Large Crude Draw In Seven Weeks
  • 5 days Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
  • 5 days EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
  • 5 days IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
  • 5 days Minister Says Norway Must Prepare For Arctic Oil Race With Russia
  • 5 days Eight Years Late—UK Hinkley Point C To Be In Service By 2025
  • 6 days Sunk Iranian Oil Tanker Leave Behind Two Slicks
  • 6 days Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators
  • 6 days WCS-WTI Spread Narrows As Exports-By-Rail Pick Up
  • 6 days Norway Grants Record 75 New Offshore Exploration Leases
  • 6 days China’s Growing Appetite For Renewables
  • 6 days Chevron To Resume Drilling In Kurdistan
  • 6 days India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round
  • 7 days India’s Reliance Boosts Export Refinery Capacity By 30%
  • 7 days Nigeria Among Worst Performers In Electricity Supply
  • 7 days ELN Attacks Another Colombian Pipeline As Ceasefire Ceases
  • 7 days Shell Buys 43.8% Stake In Silicon Ranch Solar
  • 7 days Saudis To Award Nuclear Power Contracts In December
  • 7 days Shell Approves Its First North Sea Oil Project In Six Years
Alt Text

The New Natural Resources Fueling The Green Revolution

The renewable energy revolution is…

Alt Text

2018: A Breakout Year For Clean Energy

2018 is poised to be…

A Beginners Guide to Renewable Energy

A Beginners Guide to Renewable Energy

Energy impacts every facet of our lives and as we have seen recently in the news and the recent spike in Oil Prices, the standard fossil fuels we have been using for the bulk of our energy production are gradually being depleted. This is not the only concern though as the polluting and environmental damage caused by Coal, Oil and Gas Exploration alongside refining and transportation is taking a heavy toll on the health of our planet and cleaner alternatives are coming back in vogue. Add Global warming to the mix (CO2 is the main greenhouse gas responsible and our burning of fossil fuels is the main contributor) and you see an urgent need to develop cheap, effective and reliable alternatives.

Investment in energy alternatives has seen a recent spike due to technological advances and politicians climbing on the renewables bandwagon. The first priority for politicians is to ensure their country has secure supplies of energy and secondly because it’s a large concern of the voters and their constituents.
How far they will actually go with this is another matter as the majority of renewables carry a hefty cost and still aren’t as productive as we would like them to be.

What is Renewable energy


Renewable Energy is pretty simple, basically its energy generated from natural resources that are almost infinite in supply such as Sunlight, Geothermal heat, Wind, tides, etc…
But harnessing the potentials of these energies has until recently not been a very cost effective method of energy production. Still, with the recent technological advances we have seen and large government subsidies, alternatives are starting to become a realistic alternative. Whether they can live up to the promise and the hype is another matter and one that will be revealed over the next decade.

So lets take a look at some of the alternatives:

 

Solar energy:


Is the harnessing of light from the sun and converting it into electricity. This is achieved by the use of photovoltaic cells (The photovoltaic market has seen a massive expansion over the last few years and is currently growing at over 35% a year.) The potential of solar energy is truly staggering but currently it’s a very costly alternative and significant research is needed if it is to become a reliable contributor to global energy supplies. An interesting fact to know is that in one hour the earth is hit with more solar energy than our total fossil fuel energy consumption over one year.

Wind energy:


Is a very popular and increasingly efficient means of energy production. Wind turbines are used to convert the kinetic energy the wind provides by turning a generator which in turn produces electricity. Technology within this sector has seen rapid development and the market is growing at an annual rate of 30%.

Wave Power:


Is the conversion of the energy generated by waves into electricity. This is not a very popular method of energy production, but is more predictable than solar and wind energy. The current wave power devices in production have significant limitations and further research is needed in this area which is beset with difficulties and problems.

Geothermal energy:


Is the use of heat within the earth to generate electricity. The Power generated from Geothermal energy is both cost effective and environmentally friendly and there have been significant advances in drilling and exploration technologies which present us with an excellent opportunity to fully harness the enormous quantities of energy that is offered.

Biofuels:


This is the production of liquid fuels by using plants, trees and other naturally occurring materials. Ethanol is currently the major Biofuel in use and is a primary alternative to Gasoline / Petrol. Biofuel industries are seeing rapid expansion throughout Europe and the Americas, but there are still environmental and efficiency issues that need to be worked on.




Back to homepage


Leave a comment
  • Anonymous on June 20 2010 said:
    Solar energy, wave energy, Geothermal energy, bio fuels etc is going to play a major role in the energy supply for vast majority of world population. Sooner we understand this, better would be for the world.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News