Adoption of Green Energy to Rise in Asia-Pacific due to Increasing Solar Power Projects


Posted November 11, 2020 by ManishBaghel

Major trend being witnessed in the global green energy market is increased investment in the development of power projects associated with clean and green energy.
 
The focus towards renewable energy resources has increased considerably over the past few years. This can be attributed to the swift depletion of fossil fuels, owing to their excessive utilization, and the need for adopting cleaner means of generating energy, because of the deteriorating condition of the environment. In addition to all this, the demand for energy has been increasing rapidly across the globe, which is due to the rapidly increasing population, and this demand cannot be fulfilled by just fossil fuels.

It is because of all these factors that the global green energy market is expected to witness considerable growth in the years to come. The energy generated from natural resources such as tides, sunlight, rain, wind, plants, geothermal heat, and algae is referred to as green energy. Since all these resources replenish themselves in a short span of time, unlike fossil fuels, they have the potential to solve the global energy crisis. The inclination towards green energy is rising owing to its carbon footprint reduction benefits and zero emissions profile.

Governments of various countries are actively trying to increase their share of green energy and taking several initiatives for encouraging the adoption of these resources for generating energy. Subsidies are being provided to green energy projects, which can restrict the expansion of conventional power projects to some extent and will help in the growth of green energy projects. Developing countries including India and China are aiming to meet a considerable proportion of energy needs from green energy projects.

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Biofuel energy is further of two types, namely bioethanol and biodiesel, between which, the demand for bioethanol has been higher up till now. Brazil and the U.S. are the largest producers of bioethanol. Other than this, France and Germany have been the largest producers of biodiesel across the globe. Geothermal energy is majorly utilized for direct usage or for generating electricity. Dry stream, binary cycle, and flash steam are the major types of energy conservation systems in geothermal energy.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Energy , Industry , Research
Tags green energy market , green energy market demand , green energy market future , green energy market growth , green energy market overview , green energy market scope , green energy market share , green energy market size
Last Updated November 11, 2020