What Are the Challenges of Renewable Energy?

Renewable energy holds promise as a key solution to combat climate change, reduce pollution, and provide a sustainable energy future. However, its widespread acceptance faces numerous challenges. Understanding these challenges is crucial for stakeholders in government, industry, and society to effectively support and transition to renewable energy. This article explores these challenges of renewable energy in detail.

Major Challenges of Renewable Energy

The High Initial Cost of Installation

The high initial cost of installation is one of the biggest financial challenges of renewable energy that affects its widespread use. While solar and wind power have some of the lowest lifetime costs of any energy source, the initial expenses can be expensive.

For example, large-scale solar power systems can be installed for about $2,000 per kilowatt, whereas residential systems, such as a 6.6 kW system, can be installed for around $5,000. In comparison, the installation of a brand-new gas-fired plant costs roughly $1,000 per kilowatt. Investors and lenders are put off by this significant initial investment difference because they view renewable energy projects as riskier than conventional fossil fuel facilities.

Lack of Infrastructure

Another major challenge is the current energy infrastructure, which is mostly built for nuclear and fossil fuels. Many of the transmission and distribution networks that were built in the 1950s and 1960s are outdated and incapable of handling the variability and distribution needs of renewable energy sources.

The task of upgrading this infrastructure is enormous and will take careful planning and significant financial resources. The absence of the infrastructure required to connect to the grid in some of the greatest places for solar and wind energy also makes the deployment of renewable energy even more difficult.

Power Storage

To counteract the irregular nature of renewable energy sources like solar and wind, effective power storage is necessary. These sources generate electricity only when the sun is shining or the wind is blowing, which does not always align with peak demand periods.

Without efficient and affordable energy storage solutions, excess energy cannot be stored for use when generation is low, leading to wasted potential. Battery storage systems have been made better by technological developments, but their high costs continue to be a major obstacle to their broad implementation.

Non-Renewable Energy Monopoly

The dominance of non-renewable energy sources in the current market presents another major challenge. Because of the long-standing governmental and corporate support for the fossil fuel sector, renewable energy faces major barriers to market domination.

Despite incentives and rebates for renewable energy, the fossil fuel industry continues to get subsidies and policy support, making it difficult for renewable energy to compete on an even playing field. Because of the fossil fuel industry’s deep-rooted influence on the economy, significant changes in policy and public perception are needed to encourage the expansion of renewable energy.

Lack of Knowledge and Awareness

The lack of public knowledge and awareness regarding renewable energy technology is one factor holding back the adoption of these alternatives. The shift to renewable energy is more difficult since fossil fuel plants frequently give local communities substantial economic benefits and jobs.

Misinformation and a lack of knowledge about the advantages and viability of renewable energy also make the adoption of this source more difficult. Education and awareness campaigns are critical to overcoming this challenge and encouraging broader acceptance and support for renewable energy solutions.

Lack of Policies, Subsidies, Etc.

The development and implementation of policies, subsidies, and incentives that support renewable energy are essential for its growth. Regretfully, these kinds of supporting structures are either nonexistent or very inadequate in many places.

Clear and consistent policies are necessary to attract investment and provide a stable environment for the development of renewable energy projects. Governments must prioritize renewable energy through comprehensive legislation and financial incentives to facilitate the transition from fossil fuels.

Opt for Renewable Energy with Fritts Solar

The use of renewable energy is growing in popularity. You can join them by opting for solar energy. To successfully overcome the challenges mentioned in the article and install solar energy systems, you need professional assistance.

We at Fritts Solar have installed solar systems for many years. If you’d like to speak with a professional about how you can switch to solar energy, contact us today and start your journey towards a greener future.