People often write that investing in green energy is promising. If only because entire states are adopting long-term strategies to transition to alternative energy sources. But if we are for objectivity, then we must admit that green technology is not without sin. Here are the main “stumbling blocks” of alternative energy:
- Inconsistency. The efficiency of wind and solar plants depends on the weather: little wind or sun – less electricity is produced. And instability will always threaten the collapse of the power system.
- Vulnerability. Officials in America’s southern states have been the most active in developing green energy. But when it got abnormally cold there in February 2021, electricity, heat, and water outages began. This story showed that completely abandoning natural gas and coal is dangerous for energy.
- Expensive. Alternative energy requires huge investments: OilPrice estimates that switching to it will cost the world $40 trillion by 2050. Only the richest countries can afford such expenses. And the poor will have to make do with classic energy sources.
- Environmental problems. Green energy may not turn out to be so “green”. Yes, on the one hand the transition to alternative sources will lead to a decrease in the production of hydrocarbons, but on the other hand it will require an increase in the production of other minerals: lithium, copper, cobalt, etc. And this, in turn, will lead to the destruction of soil and rocks.
Hydropower plants are not a solution either. They are sometimes no less harmful to nature than thermal power plants: they cause floods, kill rivers, flora and fauna.
In addition, used batteries have to be disposed of somewhere, just like nuclear fuel, and all this does not improve the environment.
Does this mean that alternative energy has no future?
I wouldn’t say that. I still consider green technologies to be a promising area for investment, and the problems listed above to be temporary.
But until solutions to these problems are found, it is too early to sell all oil and gas companies in favor of green energy.