Green Tech

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Green Tech
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Green Tech- The term that is a synonym for clean tech, sustainable technology etc. Definitions are various and authors describe it as:

a technology that advances sustainable development by: 1) reducing risk, 2) enhancing cost effectiveness, 3) improving process efficiency, 4) creating products and processes that are environmentally beneficial or benign[1].

That means that companies should reduce environmental degradation, by maintaining the use of natural resources and at the same time generating economic value.

it refers to any product, service, or process that delivers value using limited or zero nonrenewable resources and/or creates significantly less waste than conventional offerings[2].

That includes a various range of products and services, such as solar-power systems and hybrid electric vehicles, that[3]:

  • nullify usage of natural resources by using them more productively
  • cut out the pollution and toxic wastes
  • deliver products and services with better performance or compared with conventional systems
  • provide companies, investors, and customers with the promise of boosting returns and lower prices.

Green tech includes four sectors: energy, water, materials and transportation. It covers well-known technologies, for example solar photovoltaics, wind power, bio-based plastics, biofuels, advanced lithiumion batteries. It also features large- scale reverse-osmosis as tidal power, silicon-based fuel cells, distributed- hydrogen generation, and nano-technology-based materials[4].

Green Tech vs. Clean Energy

Both terms may indicate the same meaning, however clean energy might be considered as a sub-category of green tech. It covers energy technologies and services that limits environmental degradation, are economically beneficial and socially acceptable. It breaks down into four categories: distributed energy systems, natural gas, renewable energy and demand-side energy efficiency[5].

Conclusions

One of the variables that may affect the adaptation of green technology is the nature of technology. Green technology will be understood by entrepreneurs if it has a lot of compatibility to financial, economic, social, cultural condition, and availability of accessible technology materials[6].

Author: Filip Fikas

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Footnotes

  1. US National Science and Technology Council, (1994), Chertow
  2. R. Pernick, C. Wilder, (2009), The Clean Tech Revolution: Winning and Profiting from Clean Energy, Harper Collins
  3. R. Pernick, C. Wilder, (2009), The Clean Tech Revolution: Winning and Profiting from Clean Energy, Harper Collins
  4. R. Pernick, C. Wilder, (2009), The Clean Tech Revolution: Winning and Profiting from Clean Energy, Harper Collins
  5. P. Hoff, (2012), Greentech Innovation and Diffusion: A Financial Economics and Firm-Level Perspective, Springer Science & Business Media
  6. Ramdhani, Muhammad Ali, (2017) Model of green technology adaptation in small and medium-sized tannery industry. Journal of Engineering and Applied Sciences 12.4

References