Energy Is The Most Outstanding Ingredient For Socio Economic Growth World Wide

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Energy is the most outstanding ingredient for socio-economic growth world-wide. It exists in various forms like mechanical, chemical, electrical, heat, light etc. There is minimum amount of energy required for life sustainability. Most especially from the food we eat but fuel energy is needed in cooking and in some climate, for heating houses. Research has shown that in 2008 for instance, the world wide consumption rate of energy was estimated at 500 exajoules per year (EJ)/y. The importance of an energy system is to secure energy service in the industrial, transport, house hold and service sectors of the economy. Energy, invariably is the fulcrum of growth of national economies. Fossil fuels are carriers of hydrocarbon substances. They include coal, crude oil, and natural gas. Its consumption depletes at any rate. Typically, the looming energy crisis is sequel to consuming these fossil fuels at a rate that is practically unsustainable. Besides, when consumed, fossil fuels upset the natural balance of carbon dioxide in the atmosphere, giving rise to various environmental tipping point. Effects of this carbon dioxide natural imbalance has its long term contribution to global warming and green house effect. Conversely, renewable energy systems are resources available on cyclic basis and include solar, hydro, wind, tidal, wave, geothermal and biodegradable biomass (fuelwood, animal and crop residues, energy crops etc). They do not deplete on consumption. The application of

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