In 1956 M. King Hubbert rightly predicted that US oil production would reach its peak in 1970, even though it “peaked” with much greater abundance than expected. But the apparent downward spiral of oil reserves has been contradicted in the last ten years, and oil consumption and production has rebounded, leaving the profound question of when, if ever, we will deplete the planet’s oil reserves.
Regardless of how much we can still extract from the Earth, non-renewable energies are extremely detrimental to the health of the planet and our own well-being in so many ways. The burning of fossil fuels is the leading cause of global warming and a significant environmental risk factor in the incidence and progression of asthma, lung cancer, Parkinson’s disease, and low birth rate, among other diseases and complications.
Indeed, non-renewable energies seem to be far from depleted. But increasing environmental awareness, along with market forces, are turning the tide away from dirty energy. The world invested 47 billion US dollars in renewable energy in 2004. Within just over a decade that number increased by 600%, to 286 billion USD.
Despite recent setbacks, use of renewable energy is on the rise worldwide. The price of clean energy continues to tumble, and it can now compete, without subsidies, with non-renewable sources. In the U.S, different states offer different tax incentives for using solar energy. But the prices and benefits can vary from home to home. Fully understanding what choices to make can be a meticulous and time-consuming process.
Luckily there’s an American company called City Renewables which is making that process so much easier, helping customers reap the financial and environmental benefits of solar energy. Not only can they make sure American homeowners obliterate their electric bill for the next 25 years, they also guide their customers in the collection of the Federal Investment Tax Credit (ITC) as well as Solar Renewable Energy Credits.
Oil reserves may last a long time, but our environmental and health problems don’t have to share that timeline, because renewable energy is here to stay. Considering all its advantages, let’s take action for the benefit of our future, and our bank accounts.