Renewable energy as an income source

Over the past century, the consumption of non-renewable sources of energy has caused more environmental damage than any other human activity, including ozone depletion and global warming.

So alternative sources of energy have become very important and relevant to today's world.

These sources, like the sun and wind, can never be exhausted and consequently are renewable. They stand out as a viable source of clean and limitless energy and are also known as non-conventional sources of energy. Also, since these are naturally readily available, the benefits from a one-time investment and eventual cost saving is immense... one of these is the sun.

Solar energy is the most readily available source of energy - and it is free. Solar energy has been used since prehistoric times, but in a most primitive manner. Before 1970, some research and development was carried out in a few countries to exploit solar energy more efficiently, but most of this work remained academic.

After the dramatic rise in oil prices in the 1970s, several countries began to formulate extensive research and development programmes to exploit solar energy, which today has increased dramatically, although it has still not yet caught on in Malta.

It is interesting to note that our government has agreed to reach a target of obtaining 20 per cent of the island's total energy from renewable energy sources by 2020. That is approximately 150 MegaWatts.

The principle is basic. When we hang out our clothes to dry in the sun, we use solar energy. In the same way, solar panels absorb the energy of the sun to provide heat for heating water. Such systems vary in size and power, obviously depending on their future use but a large number are available on the market.

Nevertheless, one has to ensure that the correct elements have been used in their manufacture and that they will not be constituting problems in the future. A one-time investment should not cause any trouble, unlike cheaper alternatives available on the market.

In the next few years millions of households in the world are expected to use solar energy as trends in the US and Japan are showing. However, the popular initiative is essential if the programme is to be successful.

Nowadays Government subsidises the cost of such systems by 20 per cent to a maximum of Lm100, whereas the installation in new households automatically eliminates the cost of the Enemalta meter fee, lowering the purchase price to minimal levels.

Solar energy can also be used to meet electricity requirements. Through Solar Photovoltaic (SPV) cells, solar radiation is converted to DC electricity directly. SPV can be used for several applications, including domestic lighting, street lighting, and water pumping.

If the means to make efficient use of solar energy could be found, it would reduce our dependence on non-renewable sources of energy and keep our environment cleaner. This besides the immediate benefit of personal cost savings, through the use of what after all is already available for free!

Besides the obvious global reasons of reduction in harmful greenhouse gases, reduced use of depleting fossil fuels, using a renewable energy, source and protecting our planet for future generations has obvious financial benefits from using free energy, as can be seen in the reduction of use of gas or electricity, oil, etc., tax-efficient purchase, a form of fuel that is not subject to inflation or international market prices and index-linked, tax-free lifetime savings.

Mr Bajada is managing director of Bajada Group