How does renewable energy adoption affect the global economy?

The IELTS Reading section is known for its challenging and diverse range of topics. One such topic that has gained significant importance in recent years is “How Does Renewable Energy Adoption Affect The Global Economy?”. …

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The IELTS Reading section is known for its challenging and diverse range of topics. One such topic that has gained significant importance in recent years is “How Does Renewable Energy Adoption Affect The Global Economy?”. Given the global shift towards sustainable energy sources, this topic is not only relevant but also frequently appears in academic contexts. Understanding the implications of renewable energy will not only help you score well in the IELTS exam but also provide you with valuable knowledge for real-world applications. This article provides a comprehensive reading practice text designed to mirror the complexities of the IELTS exam, followed by questions and detailed answers.

Reading Passage

Title: The Global Economic Impact of Renewable Energy Adoption

In recent years, there has been a significant shift towards the adoption of renewable energy sources such as solar, wind, and hydroelectric power. This transition is driven by the need to address climate change, reduce carbon emissions, and promote sustainable development. The economic impact of this shift is profound and multifaceted, affecting various aspects of the global economy.

Employment and Job Creation

One of the most immediate effects of renewable energy adoption is the creation of new employment opportunities. The renewable energy sector has been a significant source of job creation, particularly in industries such as manufacturing, installation, and maintenance of renewable energy systems. According to a report by the International Renewable Energy Agency (IRENA), the renewable energy sector employed approximately 11 million people worldwide in 2018, with solar photovoltaics accounting for one-third of these jobs.

Energy Prices and Cost Competitiveness

The adoption of renewable energy has also impacted energy prices. Advancements in technology and increased investment have led to a significant reduction in the cost of renewable energy production. For instance, the cost of solar photovoltaic power has decreased by around 80% since 2010. As a result, renewable energy sources have become more competitive with traditional fossil fuels, contributing to lower energy prices and increased energy security.

Economic Diversification and Resilience

Countries that invest in renewable energy are also likely to benefit from economic diversification. Reliance on a single or limited number of energy sources can make economies vulnerable to price shocks and supply disruptions. By diversifying energy sources, countries can enhance their economic resilience and stability. This is particularly important for countries that are heavily dependent on fossil fuel imports.

Investment and Innovation

The shift towards renewable energy has stimulated significant investment and innovation. Governments and private sector entities are investing heavily in research and development to improve the efficiency and effectiveness of renewable energy technologies. This investment is not only fostering technological advancements but also driving economic growth. According to the International Energy Agency (IEA), global investment in renewable energy reached $332.1 billion in 2018.

Environmental and Health Benefits

While the primary focus of renewable energy adoption is often on economic factors, the environmental and health benefits are equally significant. Reduced air pollution from decreased reliance on fossil fuels can lead to improved public health outcomes and reduced healthcare costs. Furthermore, the mitigation of climate change through lower greenhouse gas emissions can prevent economic losses associated with climate-related disasters.

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Questions

Multiple Choice

  1. What is a direct economic benefit of adopting renewable energy mentioned in the text?

    • A) Decreased reliance on technology
    • B) Employment and job creation
    • C) Fewer investments in research
    • D) Increased air pollution
  2. How has the cost of solar photovoltaic power changed since 2010?

    • A) Increased by 80%
    • B) Decreased by 80%
    • C) Remained constant
    • D) Slightly increased

True/False/Not Given

  1. The article states that the renewable energy sector employed around 11 million people worldwide in 2018.
    • A) True
    • B) False
    • C) Not Given

Matching Information

  1. Match the following statements with the correct paragraphs:

    1. Employment opportunities in the renewable energy sector.
    2. Reduction in energy prices due to renewable energy adoption.
    3. The role of renewable energy in economic diversification.

Sentence Completion

  1. One of the major health benefits of reducing reliance on fossil fuels is __.

Answer Key

  1. B) Employment and job creation

    • Explanation: The text explicitly mentions that renewable energy adoption has been a source of job creation.
  2. B) Decreased by 80%

    • Explanation: The passage notes that the cost of solar photovoltaic power has dropped by around 80% since 2010.
  3. A) True

    • Explanation: The text clearly states that the renewable energy sector employed approximately 11 million people worldwide in 2018.
      1. Paragraph Employment and Job Creation
      1. Paragraph Energy Prices and Cost Competitiveness
      1. Paragraph Economic Diversification and Resilience
  4. One of the major health benefits of reducing reliance on fossil fuels is improved public health outcomes.

Common Mistakes

  • Misinterpreting Data: Be careful not to confuse specific data points, such as employment figures or cost reductions.
  • Matching Information: Ensure you carefully match the details from the statements to the correct paragraphs to avoid mixing information.
  • Sentence Completion: Pay attention to the context in the passage to complete sentences accurately.

Vocabulary

  • Photovoltaics (noun): /ˌfoʊtoʊˌvɒlˈteɪ.ɪks/ – The branch of technology concerned with the production of electric current at the junction of two substances.
  • Diversification (noun): /daɪˌvɜrsɪfɪˈkeɪʃən/ – The process of a business enlarging or varying its range of products or field of operation.

Grammar Point

  • Relative Clauses: These clauses begin with a relative pronoun (who, which, that) and provide additional information about a noun. Example: “Countries that invest in renewable energy are likely to benefit from economic diversification.”

Tips for High IELTS Reading Score

  1. Practice Regularly: Consistent practice with various topics helps improve comprehension speed.
  2. Expand Vocabulary: Read extensively to expand your vocabulary, making it easier to understand different texts.
  3. Time Management: Practice under timed conditions to improve your ability to complete the test within the allotted time.
  4. Understanding Question Types: Familiarize yourself with different question types to know what to expect.

By incorporating these strategies and focusing on relevant, high-quality content, you can enhance your reading skills and perform well in the IELTS Reading section.

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