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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