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For instance, the development of more efficient photovoltaic (PV) cells has enhanced solar energy harnessing capabilities while battery technologies, particularly lithium-ion, have made significant strides, allowing for effective energy storage that addresses the intermittent nature of solar and wind energy.
Economic Implications of a Green Transition
Transitioning to renewable energy is not only an environmental necessity but also an economic opportunity. The renewable energy sector is generating millions of jobs globally, from manufacturing solar panels to installing wind turbines. Additionally, fuel diversification can reduce dependency on imported fuels, promoting energy independence and stabilization of energy prices.