Natural resources are depleting rapidly and there is increasing demand from growing population for use of these resources. Necessity has provoked the need to look for alternative energy resources or renewable energy resources for fulfilling the ever increasing demands of this growing population. Governments of many countries are encouraging the use of renewable energy resources for various purposes.
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Renewable energy industry continues to grow in America owing to the regulations set up by the Government for mandatory use of renewable energy and active participation of corporations to offset their environmental impact by adopting eco-friendly methods for power consumption.
Use of non-renewable energy resources like petroleum, natural gas, and coal are creating large number of challenges for the world. Reduction in these resources and increasing demand from people for energy underlines the need to find ways to reduce the use of fossil fuels and search for renewable resources. Sun energy is the largest available renewable energy to humans while water and air are also some important alternatives for power generation.
The renewable energy market is witnessing tremendous growth as people are shifting towards using renewable energy resources for meeting their energy demands. As a result, a number of small players are emerging in the market owing to the growth opportunities created by this industry.
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