Potential applications of renewable energy sources

The potential of renewable sources is massive as they are expected to meet world’s energy demand. Renewable energy sources are biomass, hydropower, geothermal, solar, wind and marine energies they can provide sustainable energy services, based on the use of routinely available, indigenous resources. The renewable resources such as biomass, wind, solar, hydropower, and geothermal can provide sustainable energy services, based on the use of routinely available, indigenous resources are attractive renewable fuel in utility boilers.

While price of gas continue to fluctuate a transition to renewables-based energy systems is looking increasingly likely as their costs decline. Solar and wind powers continue their rapid sales growth in the past 30 years. Due to this their capital costs and costs of electricity generated, and have continued to improve their performance characteristics while fossil fuel and renewable energy prices, and social and environmental costs are heading in opposite directions. The economic and policy methods needed to support the widespread dissemination and sustainable markets for renewable energy systems are evolving fast.

Renewable energy sources (RES) supply 14% of the total world energy demand. The future growth in the energy sector will be primarily in the new regime of renewable energy, and to some extent natural gas-based systems and the conventional oil and coal sources will then die out. These developments will innovate the market opportunity to emerge and promote renewable energy technologies but of course with the assistance of governmental and popular sentiment.