Clean energy and currency value

After seeing this topic most of you would wonder how clean energy and currency value is related. What if I say they both are related and in a way the currency value will be greatly affected if we start using more clean energy instead of petroleum products for our regular consumption. There are many renewable sources of energy available for the mankind. The implementation cost can be very high compared to using non-renewable sources of energy. But in today’s world using non-renewable sources of energy is also getting costlier. That is one of the major reasons why India is facing a very tough time in the currency value against USD. Last week the rupee value hit record low against USD. This has never happened every in the history.

Reason for the fall of currency value

Rupee is losing its value against USD for the past few months. Especially this month has been a big fall for the currency value. Most of the people start blaming the government, politicians, prime minister and even God. But we have to study and understand the real reason behind it. There are several reasons why there is suddenly a huge fall in the currency value. This is not the case only for India but for other developing nations around India as well. India is one of the country that is highly dependent on Import and export of commodities. For the past few months we have been doing lots of imports compared to exports. There are multiple reasons behind it. If you look for specific reasons, you will get to know why this is happening.

When the commodity we import increases without a proper export happening, our currency will lose value against other competitive currencies. There are also some political influences behind it. The main commodity that we import is the fuels. We will be able to see a drastic increase in the price of fuels. Everything here is related and the difficulties in importing them for a good price is creating all the confusions for us. The situation is going to prevail like this for some more time as the demand in India is more compared to the supply available. When the demand is high we will end up importing more fuel from outside by even paying a higher price.

Clean energy can be a solution

Now we can wonder how clean energy can be a solution for this. If we have high dependency on fuel in India, we can look forward to reduce the dependency. If we reduce the dependency, we will gradually be able to reduce the quantity we import and that can increase the value back for us. In order to reduce the dependency on fuels, the government and other big bodies can look for options to adopt clean energy in India. There are many companies and organizations who have already started to look at Clean energy as an alternative for energy needs in India. If we have enough opportunities for that, we will be able to easily achieve this in no time.

Government and other private bodies have already started doing lots of investment on Solar power as our alternative source of energy. If we can solve our electricity needs with the help of solar power, the dependency on Diesel for generators can be reduced to some extent. Though the clean energy options cannot be a complete replacement for our existing energy needs, it can definitely help us in reducing the consumption and provide us an insight to create a better future. As a responsible citizen of India, we can also look forward to use public transport systems and avoid using own vehicles to cut down the petrol and diesel needs. This may not be a revolutionary change but this will definitely have a great impact on the rupee value.

Image Source: pixabay.com

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