The trend of sustainable development also led to the present scenario for making a decision based on why to use renewable energy supply? Just because, it’s cited in a scientific paper, sometimes challenges the industrial practice but to implement it in a meaningful and practical way, returns profit without causing any environmental damage is not an elementary task.
The designing and adapting of such methods in renewable energy supply is a long journey. So, what are the strength of the renewable energy supply?
As per the Statista Industry Report Energy Supply, a SWOT analysis was conducted based on the reliable sources states the following reasons as their strength: –
- Expertise and lead to technological advancement are strong. The strong foothold is in wind energy with renowned suppliers, a high degree of specialization, and international competitiveness.
- In 2012, about €19.5 million were invested in renewable energy solutions.
- A rare stable power grid with a comparable disruption.
- Cooperation is also at a high level from industry outside this zone so that synergy effects can be used.
The opportunities identified for investing in renewable energy supply are: –
- The market position is considered to be favourable due to the enhancement by the government’s decision so that nuclear plants are phasing out.
- The vulnerability is reduced to fluctuate in price resources by the balanced mix of broad and diverse energy.
- The expected energy prices are rising high to enable the high level of economy electrification.
- The conventional energy source is limited to climate targets in support of renewable energy expansion.
In my opinion, the strength and the opportunities show that the market is favourable for the long term but the future implications are not known.
Bundesministerium für Umwelt, Naturschutz und Reaktorsicherheit, ifo Institut für Wirtschaftsforschung, : Bundesministerium für Wirtschaft und Energie, Commerzbank, Bundesverband der Energie- und Wasserwirtschaft, press report.