Hello everyone! On today’s post, let’s talk about the economic on renewable energy.

Renewable energy brings a lot of economic advantages such as renewable energy brings little to no global warming emissions. Renewable energy also improves public health and environmental quality because it produces no CO2 emission. It has a vast and inexhaustible energy supply. In addition, it provides a lot of economic benefits and jobs for the community at the energy power plant. Since the energy will not be depleted and always available, the energy prices are stable throughout the years.

 On the other hand, renewable energy also brings disadvantages because of its non-suitability for certain regions. For example, Malaysia does not have reliable wave for harnessing wave energy. Second, it consumes high initial cost to build a power plant such as solar power plant.

Based on the figure below, there is an increasing growth in electricity generation from renewable sources throughout the year. It shows that renewable energy is an international expanding asset.

 There are a lot of countries that initiates emission reduction initiatives

Malaysia national strategic policy and action plan 2010 strategic thrusts.

Malaysia national policy and action plan 2010