Going Green

Abstract

In this study we try to explore the concept of renewable energy in a holistic context. The main focus of the research is on renewable energy and the sources through which renewable energy can be extracted. The research also analyzes the benefits that could be attained through renewable energy and the cost incorporated while extracting renewable energy from distinct sources. Finally the research describes renewable energy implications on U.S economic growth and the reliance on foreign crude oil; in addition the analysis aim to explore the go green concept and its impact

Table of Contents

Abstractii

Executive Summaryiv

Introduction1

Discussion3

Renewable Energy Sources3

Solar Power3

Wind Power3

Ethanol4

Hydroelectric Power4

Geothermal Power4

Market Supply of Green Energy4

Benefits of Renewable Energy6

Cost of Renewable Energy7

Renewable Energy Implications on U.S Economic Sustainability8

Implications of Renewable Energy and Reliance on Foreign Crude Oil9

Green Buildings in Maintaining Energy Effects10

Green Building: A Union of Environment and Architecture11

Conclusion12

References14

Executive Summary

The United States generates its electricity using a wide variety of fuel sources, primarily oil, natural gas, nuclear, and coal. Of increasing concern are the adverse environmental impacts of these energy sources. Due to pollution externalities these traditional energy sources tend to have market prices below their true social cost. Green energy sources, in contrast, have higher market prices than traditional sources but, likely, lower social costs. Electricity producers tend to offer only traditional energy options, in part, because one expects consumers to free ride when consumption benefits are non-excludable. Nevertheless, there appears to be real and growing interest among many consumers for environmentally friendly energy production. These preferences may make it privately optimal for some consumers to pay a voluntary premium. There are several prevalent “green” technologies which are available to be integrated into our current electrical and energy systems. Among these sources are wind, solar, biomasses, and captured methane. Green power programs are emerging throughout the United States to supply electricity to consumers with these sources. These programs follow a variety of structures, utilizing differing sources, pricing mechanisms, and contract terms, among other elements. Their participation rates, however, have been far below what would be expected following existing studies on consumer interest in green power and its benefits. This paper will provide a detailed analysis of the concept of green energy, its benefits, renewable energy sources, costs of renewable energy, and what can green buildings provide us in the context of going green.

Going Green

Introduction

Green energy is a term used to refer to renewable energy sources. These are sources which can be continually replenished, and have reduced environmental impacts then traditional power generation (Zarnikau 2003). There is no exhaustive list of “green” energy sources, and thus there are discrepancies among existing programs as to which sources are regarded as “green”. For example, Green-e, a third party certification organization, set standards for eligible green sources as solar electric, wind, geothermal, biomass, and small or certified low-impact hydro. The United States has launched a lot of programs which helps in reducing the footprints. For United States, the cost of defense is the most massive cause for all national ...