Energy Accounting and Performance: A theoretical Perspective
DOI:
https://doi.org/10.55202/ajcas.v1i4.88Keywords:
Energy Accounting, Energy Performance, Financial Reporting, Sustainable EnergyAbstract
People have relied on biomass as their primary source of renewable energy (RE) for thousands of years. Fossil fuels (FFs) have completely replaced renewable energy sources during the previous century and allowed for a twofold increase in global energy consumption. FF's dominance has changed how we think about and accounts for energy use. Suppose the world continues to ignore climate change. Eventually, renewable energy will be required, and nuclear power may once again be required to meet most of the world's energy requirements. However, the shift is likely to occur because of the urgent need to mitigate the effects of climate change. Renewable energy is now mostly accounted for simply calculating the FF power necessary to produce it. When the MS components decrease, this strategy becomes more inconvenient. The most abundant renewable energy sources, wind and solar, are intermittent. Hence a new approach to energy accounting is necessary. The energy accounting process may be more difficult if excess intermittent renewable energy is converted to H2. Passive solar, which is expected to grow in importance over the next few decades, is another potential source of energy savings that will need to be addressed. This research synthesizes previous efforts to determine the most effective means of tracking and disclosing future energy use
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