Page 17 - Insurance Times June 2019

Cover Story

INSURANCE

PROTECTION

FOR SOLAR

FARMS

umans have relied on conventional sources of sustainable and 'renewable' terms. Renewable energy is
H energy since the time immemorial - be it the energy that is generated from natural phenomenon /
coal, wood, gas or oil. We have used and over
processes that are continuously replenished. This includes
used these resources in order to fulfil our greedy
ambitions and robbed the future generations of wind, tides, water, sunlight, geothermal heat, and various
forms of biomass.
their rightful access and claim to these resources. Increased
demands to meet the needs of over 7.5 billion humans has Renewable energy often provides energy in four important
resulted in unparalleled levels of pollution in air, land, areas: electricity generation, air and water heating /cooling,
wetlands, water bodies along with depletion of forests. transportation, and rural (off-grid) energy services.
According to Global Footprint Network, by August 1
2018,humans consumed more resources than Earth could Some of the very well-known advantages of Renewable
regenerate for the year. In simpler terms, we are now using Energy are as follows:
the resources of close to 1.5 earths in a year. Green house gases do not get emitted by the use of
renewable energysources. This makes it the cleanest
Waking up to the this reality and seeing the repercussions form of energy and use of it prevents environmental
of our deeds in everyday weather changes, people and more degradation.
importantly, governments across the world, are talking in
As the source is infinite like winds , sun light , tides etc.,
it is very much sustainable and there is no threat for
About the author the next generation.
it helps countries becoming "energy independence".
Shubham Singh Prof. Manoj Kumar Pandey These sources are available all across the globe hence
Student, PGDM - Associated Professor Dependence on fossil fuel imports compromise the
Insurance , BIMTECH BIMTECH
security of energy supply.

The Insurance Times, June 2019 17