The energy industry is booming in India. I'm sure this has been the case in other countries as well. In some countries, individuals mostly generate their power based on where they live and what they do. In countries like India, the Government does the primary power generation and there are still places in India where electricity has not reached. We have been burning a lot of fossil fuels to generate power in the last century. People are looking for alternatives to non-renewable energy generation and that's one of the biggest reasons why this industry is booming.
Reducing the use of fossil fuels
Today we are living in a world where there is always an alternative for something. If we cannot afford something there is always a cheaper option available. Similarly today there are also better options available. We have been using fossil fuels for power generation for a very long time. But there are alternatives available and if we want to switch to alternatives, we can do so. Not just one option but there are several alternatives available to fossil fuels but there is no mass adoption yet. Steps are being taken to take this mainstream.
Governments promoting free energy
The government is keen on promoting alternative power generation techniques. If individual houses can generate their power, the government is encouraging them by providing a benefit to them. There is also a subsidy available if they introduce an alternative power generation. Not just houses but other businesses can also have their power generation on their premises instead of being dependent on the government to provide power. That can be one of the reasons why the cost of electricity is increasing on one side and energy creation is getting cheaper on the other side.
Innovations in this sector
We need a lot of innovations when it comes to power generation and storing the generated power. There have been research works going on to find out if batteries can be made using some non-toxic abundant material instead of using limited reserves. Today we are using Lithium as the primary element to create batteries but imagine if this can be replaced with a more affordable and easily available material. This will be an excellent thing because, in the last few decades, we have not seen any big innovations happening around the batteries that we use to store the electricity we generate.
New power generation ideas
Power generation has enough options available as an alternative to burning fossil fuels but we still need new power generation ideas. For example, we could use some new chemical reactions that are naturally available to produce the power we want. There has to be something more than the sun's energy, wind, tides, and water to generate energy. We have to explore and find out the new options that we can have and adopt. I also feel that an innovation shouldn't be blocked with a patent and it never comes to the end user in the market.
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