The technological advancements in renewable energies have made alternate energy solutions more feasible and affordable than ever before; nonetheless, there still remains to be one obstacle hindering the expansion which is the amount of support from the government and financial institutions. Nuclear energy, on the hand, has been considerably backed from political and financial institutions despite the potential environmental damages and accidents. There seems to be strong evidence why nuclear energy is well supported by the financial community and the government compared to the potentials that remain in the renewable industry. First and foremost, nuclear energy is highly efficient by producing large amounts of energy over a short time period with a small amount of uranium. Renewable energy, on the other hand, must harvest the energy over extended periods of time to meet small energy demands. Next, nuclear energy is very dependable for there are no interruptions in the power supply as with other renewable resources such as solar or wind. It is also becoming more reputable due to the stringent environmental regulations and technological advances. Furthermore, nuclear plants appear to favor clean energy policies as they produce little to no greenhouse gases. Consequently, politicians and financial organizations can invest securely in nuclear energy. In my opinion, renewable energy projects are failing to receive the same degree of support because they are rather high risk ventures. Indeed, nuclear energy has proven to have catastrophic failures; however, it is an established technology that is proven to be financially successful. The politicians get commended by carrying out the “clean energy” policies, while the financial institutions that invested in an established industry count their rates of return. Overall, it seems that nuclear energy has a higher success rate than most renewable energy projects at the present time. The technology and power can be continuously relied upon and the financial investments are proven to be cost-effective compared to some renewable energy projects. From an economic standpoint, it does not surprise me that the government and the financial community wants more bang for their buck.
The niche opportunities that I see for global development of renewable resources include expanding renewable energy education, solar energy, and biofuels in developing countries. The report on renewable energy in Mali was very inspirational, for I can access potential weaknesses and recognize how the public’s commitment reflects the success of operations. The public’s response to renewable energy was surprising for the lack of information lead them to mistrust and reject sustainable development. I also had the opportunity to see how renewable resources effect the local economy in a positive and negative perspective. The people need alternate income opportunities prior to making the transition to renewable resources in order to reduce poverty. Perhaps, educating the residents about renewable energies and creating renewable jobs would be an alternative. Unmistakably, the people will not support an industry that will replace his/her job (such as the firewood or kerosene business). Generally, there is a great deal of factors that must be overcame; however, there remains a strong incentive to invest sustainable in developing countries.
Click to access RE%20Mali%20exec%20summary%20final.pdf
http://www.conserve-energy-future.com/Advantages_NuclearEnergy.php
The nuclear debate definitely has a lot to do with getting the “bang for your buck” as you mentioned. I think it runs along the same line as “high risk, high reward”. There’s always the potential for accident, but the financial and government sectors seem to believe that the risk is minimal enough to strive for the reward. I’ve lived within 10 miles of 3 Mile Island my entire life and have never feared the power plant (although I didn’t live through the ‘almost’ accident!).
I think you may like reading a book called “The Boy Who Harnessed the Wind”, it’s about a boy building a windmill in Malawi.