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Risk Management on Solar Thermal vs. solar photovotaic system in the Uk
Finance & Accounting
Pages 31 (7781 words)
In UK, the renewable energy industry is rapidly expanding so as to minimize the volume of fossil fuels used in the production of electricity, and also reduce their associated carbon dioxide gas emissions for the purpose of reducing pollution to the levels or targets set by the governmental policy. …
It is a universal knowledge that the burning of oil and natural gas could produce and emit excessive carbon monoxide and carbon dioxide that could trigger global warming. To combat the global climate changes, the UK government decided to gradually shift from the use of non-renewable to renewable energy resources (Committee on Climate Change, 2010). Recently, the Committee on Climate Change announced that the Scottish Government will reduce the carbon gas emission by 3.5% annually between2020 to 2050 (Committee on Climate Change, 2011). As a result of increasing the use of non-renewable energy resources, the annual emission of carbon dioxide throughout the United Kingdom decreased from 8.95 metric tons per capita in 1995 down to 8.6 metric tons per capita in 2007 (Federal Statistical Office Germany, 2010). (See Appendix II – CO2 Emission in UK on page 23)
Renewable energy significantly contributes towards a low carbon economy and thereby, provides a secure supply of valuable energy. Numerous years of development and research in the field of the production of energy have introduced many renewable energy technologies however the progress of the renewable energy has been constrained by the various perceptions of the risk associated with such technologies. ...
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