Indeed, achieving energy autonomy is an essential target for newly awakening economies. Complete dependency on imported combustible fuels not only puts these economies at risk from sudden changes in international energy prices but also is accountable for producing toxic gases that are hazardous to the atmosphere. Fortunately, there are elective plans that these rising economies can utilize to progress rapidly toward energy independence.
One solution is to put emphasis on renewable energy resources. Renewable energy technologies such as wind, solar, and geothermal power have observed incredible growth at a swift speed, and their valuations have notably decreased. This is a golden opportunity for newly awakening economies to shift towards renewable energy and trim their reliance on foreign fuel.
Another course of action is to commit to energy efficiency (also known as e-efficiency). Energy efficiency activities, such as construction insulation, economical lighting, and ingenious product regulation, can indeed decrease energy usage, save money, and lower the requirement for imported fuel. Furthermore, these steps can bring about job creation and economic growth, which would assist in stimulating less mature economies.
Continuing on the same track, another way out is to encourage the use of electric vehicles. Electric cars have increased in popularity ever since their costs plummeted and their performance improved. Governments can encourage the use of electric cars by providing tax deductions or other monetary incentives. By making use of electricity for public conveyance, rising economies can diminish their reliance on overseas oil as well as bring about a cleaner ambiance with no waste substance, a comforting result in terms of sustainability.
To provide backing for all these proposals, rising economies need to fund satisfying research and expansion stages. Governments must make available funds for formulating advanced renewable energy platforms, energy-efficient facilities, and other creative approaches. Furthermore, immature economies could parley with worldwide partners, which would aid them through knowledge sharing and experience development, enabling them to move forward expeditiously on the path of attaining sole reliance in terms of energy procurement.
Lastly, emerging nations may make the most of global climate compacts similar to the Paris Agreement in order to help them reach their goals even faster. The Paris Agreement is devoted to combating environmental pollution by limiting greenhouse gas emissions into the atmosphere. By participating in this accord, new, maturing economic systems might gain access to monetary assistance or technology transfers that will give them a deeper understanding of transitioning from non-renewable sources to permanently available ones.
In conclusion, rising nations may attain their goal easily by concentrating on renewable sources of power, which includes embracing electric automobiles coupled with funding research projects and participating in international climate-binding settlements like the Paris Accord. All this would lead to severing relationships with imported combustible fuels while generating economic enhancement and endorsing a clean, energized ambiance complacent with sustainability goals.
Article Credit: Mtijan M. Kamara, CEM
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