Diego Forero explains why it is difficult to find a balance between cost and efficiency in renewable energy - and why renewable sources will require regulation to incentivize investors.
Diego Forero, president of Manchester Business School's Energy and Industry Club, explains the "geopolitics" behind choosing which renewable energy source is the most cost efficient.What are your club's big initiatives this year?
The main initiative this year has been the consolidation of relations with alumni working in the sector. Based on that, the club invited six speakers to our campus, and also organised networking events in London and Aberdeen (Scotland).
What proportion of MBS MBAs are members of the Energy Club?
We have 23 members in a class of 99 students; it is the second largest club in the class of 2015. We have a mix of backgrounds – people from oil and gas, mining, renewables, electricity and other industries are all members of the club.
What do you think is the best source of renewable energy in terms of quality and cost?
We cannot say that there is only one renewable source. It depends on the geography and the context. In some regions, solar energy is highly available and can be produced at an efficient cost. However in other regions wind power is more convenient.
On the other hand, some countries can produce hydroelectric power at lower costs, creating low incentive for investing in other renewable sources. In terms of quality it also depends on the geography, because some areas require more advanced technologies to achieve a similar level of efficiency.
Will we run out of energy on this planet? Or will the price mechanism ensure that an efficient alternative is always available?
I don't see scenarios without sufficient energy. First of all, fossil fuels will play an important role over the next 30 years. Natural gas is the first option to reduce emissions at a lower cost. Therefore, many countries are including it in their agenda.
Oil prices will remain volatile, but due to geopolitical factors, they cannot be controlled by the market. The transition to renewables still takes time and therefore renewable sources will require regulation to incentivize the investors, and guarantee competitive prices.
How significantly are concerns about global warming distorting the process by which we choose the most efficient energy source?
The impact is different according to each country. Recently, some countries have realised that the priority is not only clean energy – they also have to guarantee competitiveness. So countries need cheap energy to maintain economic growth.
This explains why some governments are promoting investments in nuclear energy. It is an option that ensures low cost and low emissions, despite the potential risks.
Student Reviews
Alliance Manchester Business School
The course structure
The course is well structured and organised effectively. Every subject in the field of international business is covered in the course module. The lectures are of excellent quality and are simple to comprehend.
· The lecturers are also very knowledgeable about their subjects, quite thorough, and very helpful when it comes to answering questions and giving additional information on their subject.
· Students can easily access the assignment, lectures, and seminar content thanks to the blackboard technology. Students also benefit greatly from the reading materials that are posted on the blackboard.
Practical Business Experience
3 live consulting projects, Non-for-Profit consulting, Commercial Business Consulting and International Business Consulting projects within the programme, provide us with a great opportunity to exposure to the real business world.
Quality education and student support system
What I love about The University of Manchester is the fact that, alongside with the excellent education it provides, it also takes care of the well being of the students and supports them throughout the year.
Endless networking opportunities!
I would 100% recommend this university! Throughout my 4 years there I received endless guidance and support from the amazing staff; both professors and student support teams. A particular highlight was the insightful guest lectures, networking employability events and career meetings, these significantly helped in preparing me for my future career.
Fantastic University!
AMBS provides excellent teaching and outstanding facilities, both of which combine to make a great learning experience.
The teaching staff make sure we have plenty of resources to aid our learning, and always make sure we are making the most of our studies.
The business building itself is the most impressive on campus, and provides plenty of places in which we can work.
Great facilities and support
It is a great university that provides extra support for its students. The teachers are very helpful and willing to support you and the environment is just great. It offers good facilities, study spaces and workshops that can help in your experience as a student.
New building, innovative teaching methods
The staff is very well prepared and pays a lot of attention to the student. The building is new and full of updated facilities. Teachers propose intriguing learning methods and there are plenty of international students to learn from.
It's an amazing University!
I think that AMBS is among the most well rounded universities in the UK. The cultural diversity among the students as well as the faculty is what catches my attention the most. The campus is very new and beautiful and has all kinds of facilities.
Quality and QS World Ranking
AMBS has the diverse set of batch where the students get the opportunity to mingle with the students coming from different parts of the world. The group of faculty is also very diverse having different skill set. I'd always recommend it for studying masters in business analytics.
