Today, the World Bank has seen a huge number of loans related to renewable energy investments and even expects their portfolio on sustainable energy lending to grow as we advance towards the future. But how do investments help this industry in fulfilling sustainable energy goals?
In harnessing and generating energy, mega structures and colossal power plants are among the facilities and technologies that represent the majority of the overhead cost in the operation. The amount is even greater when we are talking about renewable energy production.
Despite the developments in technology that lowered the cost of renewable energies, this industries still require subsidies that will enable them to catch up and compete with conventional energy. Although these industries get the financial help they need from the support that the federal government allocations and exceptions provide, additional help from private sectors would definitely make the biggest difference in achieving cleaner, safer, and cheaper energy for the country.
This video shows how an ambitious energy goal by the German government is put into standstill due to financial incapacities. In this video, you will see massive oil platforms being constructed that would require an overwhelming amount of funds.
It also features respondents from the industrial companies that participated in this project, who are not just willing to provide their support on the government’s plans for cheaper and cleaner energy but also sees this as an opportunity to gain experience from this kind of project.
Watch the video for yourself to get a better understanding of how funding affects the future of renewable energy in most countries in the world. For more on this subject, you can also check out our other articles and videos. Thanks for reading!