The Costs of Clean Energy
Cleaner energy, which is to say energy that does not emit carbon dioxide, is fast becoming the first choice in powering the world’s grids. There are two primary drivers of this power, nuclear and hydrogen. Developed nations, such as the United States and China, are looking primarily at nuclear to assess the costs of creating a cleaner power grid.
If high grade uranium, oil or natural gas is closer to the surface, it’s more affordable to drill. Dev Randhawa, CEO of Fission Uranium, points out just how crucial it is for companies to do their homework on this: “Because the further down you go, the costs don’t go up a little bit, they go up exponentially.”
Companies who fail this basic due diligence will find themselves underwater on the costs to mine, which makes the effort not fiscally reasonable. Otherwise, the energy market is quite lucrative for the proper investors. The key is to hire excellent geologists, and listen to what they have to say.
One idea floated in developed nations is the idea of conservation, which is a great effort. Hybrid cars, LED light bulbs and renewable energy all contribute to a cleaner power grid. The problems are that these changes aren’t feasible in developing nations, and they don’t provide enough power to handle the baseload on their own.
Conservation is a step that developed and wealthier nations can and should take in order to maintain the power grid over time. Doing so will ensure a longer lifespan for our energy sources. Developed nations must look for reliable sources of efficient energy, which do not emit CO2, that can be implemented right now.
There is a great need for action when it comes to cleaner fuel sources. We have some difficult decisions to make in our future, but we can reduce or remove our dependence on carbon-emitting fuel sources within the next few decades if we collectively dedicate ourselves to the cause.