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EXAMINING THE CONTRIBUTION AND IMPACT OF TECHNOLOGICAL ADVANCEMENTS IN THE DISCOVERY AND DEVELOPMENT OF ALTERNATIVE RENEWABLE ENERGY SOURCES UoC Student Number: A Dissertation submitted in partial fulfilment to the requirements of the Masters of Business Administration at the University of and 1
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ABSTRACT The following paper is an analysis of the impact and contributions made by technological advancement in the discovery and development of alternative renewable energy sources. The inception of this research study comes in the context that the current overreliance in fossil fuels as the main source of energy has a significant negative impact on the environment, in addition to casting a grave uncertainty with regard to its supply as a dependable source of energy for the future generations. Therefore, the report addresses how stakeholders in the energy industry can take advantage of technological advancements to reduce current overreliance in fossil fuels, and instead charter a new direction in the supply of global energy needs through renewable energy sources such as wind power, solar power, hydropower, as well as nuclear energy. Key Words: Fossil Fuels, Hydroelectricity, Nuclear energy, Renewable Energy, Solar Energy, Wind Energy. 2
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ACKNOWLEDGEMENTS I would like to thank my colleagues, friends for their cooperation and for all the opportunities provided to conduct my research. Thank you very much, everyone! 3
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DECLARATION OF AUTHENTICITY I hereby declare that the material contained in this project is the end result of my own work and that due acknowledgement has been given in the bibliography and references to ALL sources, be they printed, electronic or personal. The word count of this dissertation is 15323 excluding tables, bibliography and quotations. SIGNED : DATE : 4
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TABLE OF CONTENTS ABSTRACT ...................................................................................................................... 2 ACKNOWLEDGEMENTS .............................................................................................. 3 DECLARATION OF AUTHENTICITY ........................................................................... 4 LIST OF TABLES AND GRAPHICS ............................................................................. 10 CHAPTER ONE: INTRODUCTION .......................................................................... 11 1.2 - BACKGROUND OF THE RESEARCH STUDY ......................................... 11 1.3 - RATIONALE OF THE RESEARCH STUDY .............................................. 13 1.4 - RESEARCH AIM AND OBJECTIVES ......................................................... 16 1.4.1 - Research Aim .......................................................................................... 16 1.4.2 - Research Objectives ................................................................................ 17 1.5 - RESEARCH QUESTIONS ..................................................................................... 17 1.5 - SIGNIFICANCE OF THE RESEARCH STUDY ......................................... 17 CHAPTER TWO: LITERATURE REVIEW ............................................................. 19 2.1 – INTRODUCTION .................................................................................................. 19 2.2.1 - History of Fossil Fuels ......................................................................................... 22 2.2.2 - Usage Trends of Fossil Fuels ............................................................................... 25 2.2.3 - Environmental Impact of Fossil Fuels ................................................................. 27 2.2.4 - Decarbonisation – A Historical and Economical Review .................................... 29 2.2.5 - Future of Fossil Fuels ........................................................................................... 33 2.3 - TECHNOLOGICAL ADVANCEMENTS AND RENEWABLE ENERGY SOURCES ....................................................................................................................... 35 2.3.1 - Hydro-Electric Power .......................................................................................... 38 2.3.2 - Wind Energy ......................................................................................................... 41 2.3.3 - Solar Energy ......................................................................................................... 43 2.3.4 - Nuclear Energy ..................................................................................................... 46 CHAPTER THREE: RESEARCH METHODOLOGY ............................................ 48 3.1 - RESEARCH METHOD .......................................................................................... 48 3.2 - RESEARCH DESIGN ............................................................................................ 48 3.3 - SAMPLING STRATEGY ....................................................................................... 48 3.4 - DATA COLLECTION METHODS ........................................................................ 49 3.4.1 - Secondary Data .................................................................................................... 49 3.4.2 - Primary Data ........................................................................................................ 50 3.5 - DATA ANALYSIS METHODS .............................................................................. 51 3.7 - ETHICAL CONSIDERATIONS ............................................................................ 52 CHAPTER FOUR: RESULTS AND FINDINGS AND DISCUSSION .................... 54 5
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4.1 –COMMON FORMS OF ENERGY ......................................................................... 54 4.2 - MAIN SOURCE OF ELECTRICITY ................................................................... 56 4.3 - PREVALENCE OF FOSSIL FUELS AS A SOURCE OF ENERGY .................... 58 4.4 - SUSTAINABILITY OF FOSSIL FUELS ............................................................... 59 4.5 - ENVIRONMENTAL EFFECTS ASSOCIATED WITH THE USE OF FOSSIL
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  • Fall '19
  • Energy development, World energy resources and consumption, Peak oil

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