Why Not? There is a desperate need to meet the challenges caused by climate change and environmental degradation. In the past, it was the entrepreneurial spirit that contributed most to the innovations with far-reaching benefits. Besides, scientists from outside the industry innovated technologies like steam power, the railways, telegraph, radios and telephone, petroleum, the automobile, computer, internet etc. Yet the role of entrepreneurial innovation in addressing environmental problems has received relatively little attention. In this context, presently, the clean technologies have emerged.
Clean Technologies are technologies that use energy, water, raw materials and other inputs more efficiently and productively, create less waste or toxicity, deliver equal or superior performance, and improve customer profitability, through cost reduction and/or increased revenues. Such technologies are found in a broad range of industries, including energy, water, manufacturing, advanced materials and transportation. $
A few examples of clean technologies are:
Wind Energy, Solar Energy, Water Filtration, Industrial Process Controls, Hybrid Electric Vehicles, etc.$
With the decrease of available energy sources; like, petroleum, coal etc., demand for energy worldwide going through the roof and after poor effects of global warming, manufactures realise that alternatives are serious business.
Convergence of environmental, technological, economic and social factors will produce more resource-efficient technologies that will be less reliant on obsolete, polluting technologies.
Clean technology is an intrinsic part of a sustainable economy. Over the past few years, the importance of developing clean technologies has grown significantly and has driven the growth of what are now multi-billion dollar markets. Globally wind energy market was valued at USD 5 billion in the beginning of 21st century, are expected to grow to USD 550 billion by next year, while solar energy is expected to note from USD 3.5 billion to USD 28 billion by the same time period.
The measure share of the climate change in the outlook towards clean technologies has been due to the increasing realization that this is not merely a social responsibility requirement, but also yield amazing profits.
The result of this awareness is steadily evolving into a sustainable new economy, which is based on premises of clean energy, transportation, water and materials that embody the emerging principles of industrial ecology, resource productivity and natural capitalism. Industrial houses, corporates, as well as governments are now investing in research and development on environment-friendly technologies.
There is a need in developing countries to have easy access to the technologies and cheaply. For any major change, changing political understanding on such issues, government support and prospects for business involvement is critical. For the advance of clean technologies require adequate and reliable R&D budgets, better incentive systems to promote and support clean-tech purchases by businesses and competitive price for consumers. A robust economy is as much required for encouraging clean tech investments. And that’s all. 🙂 $