Global climate change continues to devastate humankind because increasing temperatures, heatwaves, drought, etc. continue to make certain Earth regions inhabitable. Researchers and experts in the field of environmental conservation reported that the planet’s protection, the ozone layer, is gradually depleting from the increased emissions of greenhouse gases such as carbon dioxide and methane. Industrial analysts pointed out the major carbon emitters, including transportation and industrial processes such as heating and electrical power generation. Nations worldwide continue to hold numerous conferences and discussion forums to address the strategies for reducing the Earth’s atmosphere’s carbon footprint.
Although countries rolled out their carbon-neutral goals and other zero-emission master plans, most industries hesitate to transit from fossil fuels to renewable energy. For instance, fossil-fuel-powered electricity generation facilities still run their coal-fired infrastructure alongside renewable energy technologies. Some experts termed the idea as a dilemma, taking a step forward only to, later on, take two backwards. The expert research study illustrates the frustrations that industries go through as they attempt to salvage their investment in fossil fuels from going to waste. When implementing a transition to renewable energy, executives in industries must take-into-account some considerations to ease adopting the shift from fossil fuels. The crucial strategies help streamline the transition while ensuring that their results achieve targeted sustainability goals.
First, the executives must identify a budget that establishes the plan for the industry’s sustainability goals. Different sectors require varying investments to attain their carbon-neutral goals. For example, electricity generation requires infrastructure that requires massive funding to transition to renewable energy.
Secondly, the federal policies and international regulations affect the formulation, development and implementation of every plan for emission-free economies. Local governments enact environmental laws that regulate the carbon levels for various sectors of the country’s economy. Globally, the United Nations (UN) endorses regulations that govern industrial operations concerning minimizing global carbon footprint.
Thirdly, the executives must weigh the pros and cons of both off-site and on-site energy facilities. The planning phase requires a comprehensive report on selecting the location for a renewable energy plant. Expert advice must be involved during the decision-making process to ensure that the industry officials determine the best facility for their energy transition.
Last but not least, the executives, stakeholders, and experts must consider the available product options. Energy buyers opted for the Virtual Power Purchase Agreements, but experts say that the VPPAs complicate companies’ operations over the years. In some cases, the VPPAs are counterproductive to attaining the corporation’s goal. In summary, any industry looking forward to implementing its transition plan for renewables must consider some of the critical aspects outlined above.