What Is Renewable Energy?
Updated: Oct 17, 2022
This week I welcome the CEO of SOLUNA: Sell. Every. Megawatt.
Soluna harnesses the power of computing to accelerate the renewable energy future. Their data centers can buy every excess megawatt to use for batch-oriented, computing-intensive processes such as cryptocurrency mining or machine learning, and this solution is as low-risk and low-friction to use as a smartphone.
So I had to ask: what is renewable energy, why is it important, and why should an entrepreneur care?
The best definition I have found is renewable energy, often referred to as clean energy, comes from natural sources or processes that are constantly replenished. Wind power and solar power are some of the most commonly known renewable energy sources, but so can water – like the ocean waves or hydroelectric energy created from dams.
I have personally noticed solar panels being installed throughout Oregon much more in recent years, and I have driven over energy creating dams and walked up to the our massive wind turbines (they are HUGE!). In fact, my good from Kurt is currently down in Arizona installing fields of solar panels right now.
But why is any of this important to an entrepreneur?
Almost two-thirds of wind and solar projects built globally last year will be able to generate cheaper electricity than even the worlds cheapest new coal plants, according to a new report from the Intranational Renewable Energy Agency, IRENA, the lead intergovernmental agency supporting countries for the energy transformation.
The transformation to renewable energy is already occurring, and the total expense may be going down, helping ease operational costs for some entrepreneurs and businesses. Renewable energy also helps conserve the earth’s natural resources.
Fossil fuels accounted for over 80% of carbon emissions released in the air.
Currently most investments in renewable energy are used to build and maintain facilities creating jobs for our economy.
In fact, renewable energy investments in the United States are frequently used in the same state, city, and sometimes town, and that is why the entrepreneur should care.
Renewable energy will never be depleted while other sources of energy are finite and will deplete over time. Renewable energy conserves the nation's natural resources and provides reliable power supplies and fuel diversification, which enhances energy security and lowers risk of fuel spills while reducing the need for imported fuels.
Again, renewable energy is energy that comes from natural resources; however, those natural resources replenish themselves without depleting the planet’s resources. Fossil fuels such as oil, coal, and natural gas, do not replenish and do deplete – once we are out, we are out.
As an entrepreneur, we need to think of our globe first because we cannot be global entrepreneurs if we do not have no globe. Renewable energy emits no or low greenhouse gases – that is good for climate change. Fewer air pollutants = better health as well.
Lastly, overall cost. Renewable energy comes with low costs because it is produced locally, meaning it is less affected by geopolitical crisis, price spikes or sudden disruptions in supply chain.
It is time we put the power of energy back into the hands of the entrepreneur.
Tune into the episode today!