Energy sector faces issues regarding climate change and energy consumption
Executive Director of the Joint Institute for Strategic Energy Analysis, Douglas Arent, talks about the result of the imminent climate change and the challenges and opportunities the energy sector faces regarding the matter, in a lecture held in the Peter O'Donnell building as reported by Westward Group Alternative Energy blog.Arent stated that the energy sector must decrease the amount of energy required to power a domestic economy and minimize its carbon footprint in order to help the United States overcome the results of climate change. Furthermore, he also noted that in order to reach the world's demand for energy, carbon productivity must increase three times as quickly as labor productivity did during the Industrial Revolution.According to the research of Arent's team, which was requested by the Department of Energy, the United States could possibly meet the amount of its 2050 estimated electricity demand by using renewable energy.As a result, renewable energy will represent anywhere from 30 to 90 percent of energy consumption. Arent also discussed that due to the desire of older people to create a sustainable earth for younger generations, they tend to invest more in clean and renewable sources of energy because they care for their children and grandchildren.Trong Nguyen, a finance sophomore claims that in order to support the world's energy demand in the future, the carbon productivity levels should increase. He also stated that he wouldn't be surprised if future technological breakthrough allows society to quickly reach the carbon productivity levels that could meet the world's demand for energy.Jonathan Tran, a public health freshman said that experts should be devoted to increase their research to find more possible sources of renewable energy, because he believes that using an increasing amount of renewable sources of energy will support the society to deal with both the persistent problem of energy sources and limiting nonrenewable energy's damaging impact on earth.Energy investments are increasingly distributed to clean and sustainable energy due to the fact that decarbonizing initiative is gaining more traction. Bloomberg Energy Finance projected that for the next twenty years there will be a constant and relatively significant increase in investment in clean energy technologies and also a decrease in fossil fuel investment worldwide.