George Khoury from Princeton Believes that Although Solar Energy is Expensive, it can Provide The Best Return on Investment
B&E: What initiatives from the businesses and policy makers do you think are necessary to encourage solar power generation?
GK: I believe that business and policy makers must present to the public three important facets to encourage solar power generation. First is energy efficiency – they must present quantitatively the efficiency of solar power. The second is safety. Thirdly, they must present how much cheaper and cleaner this energy source is in comparison to the alternatives. Not only must they present these, but they must demonstrate them consistently. Only then will the public embrace the use of solar Beyond this, effective advertising campaigns to promote the use of solar energy would be important as well.
B&E: Please elaborate on the challenges that both these technologies face towards becoming major sources of energy generators in the near future?
GK: Nuclear energy generation is always challenged with the problem of safety, especially in the light of those recent unfortunate events in Japan. If nuclear energy companies could demonstrate ample safety controls (much beyond their current levels) to ensure the safety of the public and biota in the surrounding regions in the event of a disaster, only then do I believe that the public can embrace its use with ease.
Comparatively, solar energy is much too expensive at the moment. Although considered an investment that will pay itself off in several years of use, the funds needed to purchase solar energy systems are still too expensive. I believe this that with time, the costs will decrease (similar to how the cost of sequencing a human genome has starkly been lowered over time as technology & innovation persisted & improved).
GK: I believe that business and policy makers must present to the public three important facets to encourage solar power generation. First is energy efficiency – they must present quantitatively the efficiency of solar power. The second is safety. Thirdly, they must present how much cheaper and cleaner this energy source is in comparison to the alternatives. Not only must they present these, but they must demonstrate them consistently. Only then will the public embrace the use of solar Beyond this, effective advertising campaigns to promote the use of solar energy would be important as well.
B&E: Please elaborate on the challenges that both these technologies face towards becoming major sources of energy generators in the near future?
GK: Nuclear energy generation is always challenged with the problem of safety, especially in the light of those recent unfortunate events in Japan. If nuclear energy companies could demonstrate ample safety controls (much beyond their current levels) to ensure the safety of the public and biota in the surrounding regions in the event of a disaster, only then do I believe that the public can embrace its use with ease.
Comparatively, solar energy is much too expensive at the moment. Although considered an investment that will pay itself off in several years of use, the funds needed to purchase solar energy systems are still too expensive. I believe this that with time, the costs will decrease (similar to how the cost of sequencing a human genome has starkly been lowered over time as technology & innovation persisted & improved).
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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IIPM: Indian Institute of Planning and Management
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
