When it comes to recent shifts in global temperatures, changes in precipitation totals, and the imminent loss of species on land and sea, climate change is the large, disruptive elephant in the room. Caused in large part by the excessive levels of fossil fuels used to power cars and generate electricity, climate change has led many countries to consider cutting back on the amount of fossil fuels they use. 

The solution? Implementing cleaner forms of energy to slow the progression of climate change. 

With so many countries switching to clean energy, however, there are bound to be a few noticeable impacts felt by citizens and governments around the world. After all, nothing worth doing is ever easy. Today, we’re reviewing some of the possible impacts of moving to clean energy too quickly. 

What Is Clean Energy, Anyway? 

Clean energy refers to the development and use of sustainable forms of energy to power our homes and cars. Some of the most popular forms of clean energy include: 

  • Solar 
  • Wind 
  • Hydropower 
  • Geothermal 
  • Bioenergy 
  • Nuclear 

By taking advantage of clean energy options, not only can humanity slow down the effects of climate change globally, but we can improve the quality of our air, create new job opportunities, and protect Earth’s natural resources and ecosystems. 

Effects of Switching to Clean Energy in a Hurry 

Despite the long-term advantages of making the switch to cleaner energy, there are a few potential repercussions that could occur if we move to clean energy too quickly. They include: 

Disrupting the Economy 

While transitioning to clean energy fuels and other sustainable resources will provide plenty of career opportunities for those in the field, it is also likely to leave employees of coal mines, natural gas power plants, and oil refineries without jobs. Many newly unemployed individuals will find work in other industries, but the loss of jobs could result in a temporary economic downturn while they search for other forms of employment. 

Challenging the Current Energy Supply 

Certain types of clean energy depend on ever-changing weather conditions. For example, solar power relies on consistent sunlight while wind power is dependent on—you guessed it—the wind. Both of those resources are indispensable, but they’re also not completely reliable. One day, you may find yourself with a blustery day ideal for churning out energy. The next? Not a breeze for miles. 

If we make the switch to clean energy too swiftly, it could be challenging to find a consistent supply of energy to generate enough electricity for entire cities and countries. The result could be unexpected blackouts or power shortages until Mother Nature decides to bestow her gifts upon solar panels and wind turbines again. 

Increased Energy Costs 

A substantial amount of capital is required to purchase the materials needed for a rapid expansion of clean energy. While estimated long-term financial benefits include lower monthly electric bills for businesses and individuals alike (approximately $500 a year), those high upfront investment costs have the potential to lead to a short-term surge in energy costs for consumers. 

Technological Limitations 

In addition to the large upfront cost associated with getting clean energy up and running, there’s also the potential challenge of locating enough materials to establish the entire clean energy infrastructure. From the excessive minerals required to build wind farms and photovoltaic (solar) plants to the batteries needed for energy storage, some locations may face supply chain constraints as they search for the necessary components to quickly establish clean energy resources. 

Make an Impact on Energy at The University of Texas Permian Basin 

Whether you’re just starting your career or honing your skills to excel in your current role, UTPB offers three entirely online graduate programs that center around the energy industry: 

Graduate Certificate in Energy Business 

In as little as two semesters, you can complete this 12-credit program and gain both a graduate certificate and an exclusive set of skills relevant to the rapidly growing energy industry. If you’re looking to advance your career or move into an analyst or managerial role, this is the perfect certificate for you. 

MBA with Certificate in Energy Business 

This 36- to 45-credit AACSB-accredited online program can be completed in as little as four semesters and provides the knowledge and leadership skills needed to give you an edge in this competitive field. Our MBA with a certificate in energy business also prepares you for a diverse range of roles in the energy industry, deeply examining the intersection of energy and business so you understand this complex field from every perspective. 

Master of Science in Energy Business 

Our Master of Science in Energy Business is designed specifically for energy industry professionals and is one of very few programs of its kind in the United States. This program gives students a robust foundation in financial principles by offering courses that focus on energy finance, financial management, financial derivatives, and corporate finance and strategy. With this master’s degree, you’ll obtain not only an impressive credential but also all the expertise that today’s energy industry leaders need to succeed. 

With UTPB’s flexible online format, you can complete your coursework 24/7 from almost anywhere. Start your journey toward a career you’ve only ever dreamed of and apply to one of our energy business programs today! 

Sources: 

https://www.americanprogress.org/article/clean-energy-will-lower-household-energy-costs/
https://www.iea.org/articles/the-cost-of-capital-in-clean-energy-transitions