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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