Green technology is an umbrella term that takes into account the short and long-term impact something (i.e., process, application, product) has on the environment. While this era was first introduced in the early 19th century, green tech as a recognized business sector didn’t start modernizing until the 1990s.
The idea of green technology will help individuals conserve the earth’s renewable and nonrenewable resources. Along with this, its aim is to reduce negative impacts on the environment caused by human activity, such as pollution and global warming. While this sounds extremely appealing, green tech has its fair share of disadvantages. These comprise job losses, certain companies going out of business, high product costs, and lack of awareness of the general public. Some communities perceive green technology to be all the rage and a notion of great benefits, but some believe it to be a flawed vision of sustainability.
Examples of green tech include recycling (waste incineration/management), water purification, self-sufficient buildings (infrastructure that can be operated independently), and generation of energy (solar panels, hydropower dams, windmills, etc).
India is the world’s fourth-largest carbon emitter, so companies like Adani Green Energy Limited, Toyota, Tata Power, etc. operate and maintain projects that utilize renewable sources of energy every step of the way required to reach their goals. It is said that our world in 2024 will alter its practices drastically – solar will become 35% cheaper, wind energy capacity will increase 57%, hydroelectric capacity by 9%, and geothermal capacity will increase by 28%. This is evident because of the fact that India is the 2nd largest renewable energy producer in the world, right after China and followed by the United States.
Inevitably, green technology is our future. In response to the anticipation and panic around climate change and a heightening scarcity of natural resources, many investors have been shedding light on start-ups that provide a sense of security. This way, a substantial number of businesses have started revolving around the emerging practice of adopting green technology. Another reason why companies are focusing on green technology is that supporting environmental goals and sustainable practices through the latest technological advances is vital for a clean and safe future.