Solar power the world. Will solar enegry be the new oil of the world.

What Economic issue does solar energy present

Along with many issue solar energy companies have had with creating sufficient amount of energy to power huge industries, there is also a high cost on their energy making it hard for solar energy companies to come up with the money to build their huge power plants. In fact “there is a unifying problem they have yet to overcome: Finding enough customers to support the costly infrastructure they must first build.SunEdison is far from being the only troubled green-energy business”( Julie Creswell). Companies like SunEdison will collapse if they don't receive enough clientele because it becomes more expensive for them to maintain their current energy fields. In addition to this, the cost to build a solar power plant is extremely expensive. #2The regular solar PV power plants size is 100 MW, but the estimate for 60 MW plant size would be nearly around 304 Million USD.“Cost and Performance characteristics”.To build many of these solar plants would cost a fortune, potentially costing taxpayer money. Even though these solar plants are costly, many benefits do come from them.

How many companies are using renewable energy

More companies are actually using renewable energy then people would expect. Big companies have started to see the need for renewable energy, 500 companies have already made a pledge to take a step towards renewable energy. In fact, “Goldman Sachs, Johnson & Johnson, NIKE, Inc., Procter & Gamble, Salesforce, Starbucks, Steel-case, Voya Financial, and Walmart have today joined RE100, pledging to source 100% of their electricity from renewable energy to reduce CO2 emissions and seize the business benefits”(“500 LISTED COMPANIES PLEDGE”). As many companies are joining the RE100 there goal is to further in the future run on 100% renewable energy, companies have already reached that goal. For example in an article published by Forbes “Ten Companies Using 100% Renewable Energy” Osha Gray Davidson writer for Forbes says companies like Kohl’s, whole Foods, Dannon, person and HSBC all including variety of sectors like retail, banking, government, food and beverages, natural resources.

How will companies using renewable energy help the environment?

Everyone knows how bad Co2 is for the environment what scarier is the amount of carbon dioxide we put in the air. In an article, "Main sources of carbon dioxide emissions"

published by What's Your Impact Organization writes “The industrial, residential and commercial sectors are the main users of electricity covering 92% of usage. Industry is the largest consumer of the three because certain manufacturing processes are very energy intensive.” This is a scary number that is a lot of carbon dioxide being released by companies the producers of our goods and if we can reduce that will be helping out the environment.

Big industries have already see the big impact they have on the environment and have also see the benefits for being eco friendly according to an article published by “Renewable Energy World” states, “66% of global consumers are willing to pay more for products or services from eco-friendly businesses, and 24% of employees are willing to take a pay cut of up to 10% if it helps the environment, meaning companies have a vested financial interest in going eco-friendly in addition to a moral obligation.” This is showing how Companies going eco friendly will not only help the environment but also bring them business. People like to see companies invest in sustainability and it drives where they go spend their money therefore creating companies to invest in their sustainability and more eco friendly ways.

Is there any down fall to companies using solar energy?

Although there are multiple renewable energy sources but solar energy seems to be the popular among company selection. Although there are many benefits to the use of solar energy there are downfalls one of them being cost “Total installation costs can start around $15,000 and range well past $40,000, depending on the home, and whether you install the system yourself or have it installed by a professional(Chris Sherwood). This is one of the most talked about factors of solar energy the cost since the technology is not as advance and the materials used to create the panels are so exotic, companies are scared to take the step to sustainability with a huge bill and the energy not to sufficient. Along with this another issue that is holding companies back is “Solar energy is an intermittent energy source. Access to sunlight is limited at certain times (e.g. morning and night). Predicting overcast days can be difficult. This is why solar power is not our first choice when it comes to meeting the base load energy demand”( Mathias Aarre Maehlum). Solar energy needs sun and if companies are going to make such a large investment they don't want this alternative source to no meet their demand.

How are companies implementing the use of renewable energy in the future?

Companies are planning to use the advancement of modern technology to build their new headQuarter and commanding facilities even their manufacturing centers out of renewable energy technology to make them sustainable. For instance in an Article published by MacWorld.CO writes “ The new Apple Campus will aim at being self-sufficient. Most of the power for the facilities will come from an "on-site low carbon Central Plant", according to an Apple Insider report. Apple intends to use alternative energy sources to power the campus, as part of its pledge to use 100 percent renewable energy at its facilities”( Amy Moore). Apple is one of many industries taking a step towards renewable and sustainable energy to make a change for the environment. Although apple is looking to renewable energy in the future so is competitors amazon and google. Chris Baraniuk a Editor for BBC News writes, “It’s not alone in such efforts, either. Online retailer Amazon just announced the construction of a new, 253-megawatt wind farm in West Texas. Google, meanwhile, has invested in the Ivanpah Solar Electric Generating System pictured above”( Baraniuk). These companies are not just only selling their products but they are now starting to sell solar energy to residents all around world. These companies have the money and access to build theses fields allowing them to benefit financially to an energy source soon to be in need.

Works Cited

Davidson, O. G. (2011, August 11). Ten Companies Using 100% Renewable Power. Retrieved March 20, 2017, from http://www.forbes.com/sites/oshadavidson/2011/05/17/ten-companies-using-100-renewable-power/?scrlybrkr=fa70a6e4#29694df94ccb

September 18–24, 2017. NEW YORK CITY. (2016, September 18). Retrieved March 20, 2017, from http://www.climateweeknyc.org/news-media/fortune-500-listed-companies-pledge-to-use-100-renewable-electricity

U.S Information Administration. "U.S Energy & Information."Http://www.eia.gov/outlooks/aeo/assumptions/pdf/table_8.2.pd. EIA, n.d. Web. 20 Mar. 2017. <http://www.eia.gov/outlooks/aeo/assumptions/pdf/table_8.2.pd>.

Creswell, Julie, and Diane Cardwell. "Renewable Energy Stumbles Toward the Future." The New York Times. The New York Times, 23 Apr. 2016. Web. 20 Mar. 2017. <http://www.nytimes.com/2016/04/24/business/energy-environment/renewable-energy-stumbles-toward-the-future.html?_r=0&module=ArrowsNav&content>.

CBS NEWS. "Carbon Dioxide Emissions Rise to 2.4 Million Pounds per Second." CBS News. CBS Interactive, 02 Dec. 2012. Web. 20 Mar. 2017. <http://www.cbsnews.com/news/carbon-dioxide-emissions-rise-to-24-million-pounds-per-second/?scrlybrkr=edb7f9bf#>.

"Benefits of Renewable Energy Use." Union of Concerned Scientists. Ucsusa, 18 Apr. 2013. Web. 20 Mar. 2017. <http://www.ucsusa.org/clean-energy/renewable-energy/public-benefits-of-renewable-power#.WM9ZudArJE4>.

Sherwood, Chris. "Bad Things About Solar Panels." LIVESTRONG.COM. Leaf Group, 23 June 2015. Web. 20 Mar. 2017. <http://www.livestrong.com/article/129740-bad-things-solar-panels/?scrlybrkr=fe05b8e9>

Maehlum, Mathias Aarre. "Solar Energy Pros and Cons." Solar Energy Pros and Cons. Energy Informative, 12 May 2014. Web. 20 Mar. 2017. <http://energyinformative.org/solar-energy-pros-and-cons/>.

Baraniuk, Chris. "BBC - Future - Why Apple and Google Are Moving into Solar Energy." BBC News. BBC, 14 Oct. 2016. Web. 20 Mar. 2017. <http://www.bbc.com/future/story/20161013-why-apple-and-google-are-going-solar?scrlybrkr=2dea6167>.

Moore, Amy. "New March Drone Footage of Apple Park, Set to Open in April 2017."Complete Guide to Apple Park. MacWorld, 17 Mar. 2017. Web. 20 Mar. 2017. <http://www.macworld.co.uk/feature/apple/complete-guide-apple-park-apples-spaceship-campus-hq-april-2017-3489704/?scrlybrkr=13739c02>.

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