Pollution and global warming very serious in the next 10 years

SINGAPORE: A global policy framework for renewable energy is needed in the world today and sustainable initiatives that focus on carbon tax should be developed.

This is necessary as over the next 10 years pollution and global warming are going to be very rapid.

“If nothing is done, they will kill our world,’’ Suzlon Energy chairman and managing director Tulsi Tanti said at the Forbes Global CEO Conference yesterday.

A carbon tax is an environmental tax on emission of carbon dioxide and other greenhouse gases.

But to develop renewable energy there is also an issue of supply and demand and, for now, nuclear and solar energy has failed to become a fast enough alternative.

Renewable energy is an alternative in view of the higher cost of oil and fossil fuels. The development of resources, innovation and technology are, therefore, vital for adoption of renewable energy.

Tanti said Malaysia should develop alternative sources of wind and solar energy.

“There is some potential but the Government has to do wind mapping before it can be implemented,’’ he said.

Solar and wind can make up to 20% of alternative energy sources in the world and the investment of wind turbines is US$1mil per kilowatt hour.

“No doubt the pace of growth in renewable energy has accelerated the past three years but it would take 15 years go put in these systems before we can see any shift,’’ SMR CEO Geoffrey P. Cowley said.

Imposing a feed-in-tariff to accelerate alternative energy was also not viable as consumers would not pay more for green energy, said Khosla Ventures operating partner Ford Tamer.

Suzlon may be one of the leaders in wind power but its turbines have cracked and the company faces some technical issues. To this Tanti said the issue was being handled and should to be seen as a failure.

“It is a normal phase of research and development. The company has set aside US$30mil to rectify the problem which involves 400 machines. Suzlon is also investing US$1bil over the next five years in technology investment to further improve cost and product enhancement,” Tanti added.