30 Oct 2015 01:10:11
Encouraging Government Policies to Drive Global Green Technology Market
The concept of green technology was conceived and developed in the late 1960’s as a solution to rising oil prices and arose out of the realization that reserves of fossil fuels might not be bankable after all. Over the years, the idea of green technology has evolved to encompass a larger purpose of creating a source of energy for the civilization that is self-sustaining and only mildly taxing to the environment.
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Therefore, the term ‘green technology’ has moved beyond solar panels, wind turbines, and alternative fuel to concepts such as green architecture, wastewater electricity generation, nuclear energy, and biofuels. Green chemistry in an integral component of green technology that has been focusing on designing products to lower the use and generation of harmful substances.
Climate Change and Rising Carbon Emissions Promote Green Technology Market
Currently, the biggest concern for nations across the globe is to reduce carbon emissions and control the threat of climate change. This worry is the main driver of the global green technologies market, which is inclusive of efforts such as green manufacturing, green building, fuel-efficient transport, wastewater recycling, and green nanotechnology. As governments offer incentives to encourage companies to focus on creating a foundation of dependable green technology, this market will flourish significantly. The growth of this market will also be seen as foundational to a solid action plan for managing the ongoing crisis of global warming.
Green Architecture to be the Future of Sustainable Housing Development
Architects, builders, and others in the construction industry are looking at ways to cut down the use of urban resources to make the colossal expansion of urban spaces sustainable. Green architecture comes as a response to this sentiment. It is a solution especially designed to construct buildings in manner that will use natural light and wind to cut down on energy consumption. Furthermore, these projects will also see raw materials being sourced from urban landfills and waste. Also termed as passive constructions, these buildings will need no additional maintenance or operating costs and will thus become the norm in the construction industry in the years to come.
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China Becomes Leading Investor in Global Green Technology Market
Several countries are making heavy investments in the global green technology market. According the United Nations Environment Programme (UNEP), there has been a 17% rise in the investment made in green energy in 2014. This biggest contributor to this growth was China, closely followed by Japan and the United States. Huge investments are being seen in wind plants, biomass, and solar energy. Developing nations such as Vietnam, India, China, Malaysia, Pakistan, the Philippines, and Thailand have achieved great success in exporting green technology to other countries.
Government agencies and policymakers are also amending standards and regulations in a manner that will promote green technology. Furthermore, as consumers and manufactures look to buy products made from green technology and selling the same, respectively, this market has every chance of shaking up the energy mix of many countries. The intense research and development being done on designing hybrid vehicles will set the trend of the manufacture of fuel-efficient cars in the automotive industry. Some of the key players in the global green technologies market are Clean Power Investor, Suzlon, General Electric, Aleo Solar, Siemens, Nissan, Panasonic, Sharp solar, Gamesa, and First Solar.
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