Age of OilIndependent researchers, used IEA’s same “bottom-up” data, have now stated the IEA was wildly optimistic. The Global Energy Systems Group has concluded the world actually reached Peak Oil in 2008, and global oil production will now begin to decline. Investment alone cannot fix the problem as the decline rates of existing fields are accelerating (Romm, 2010).The first alternative to the oil as a source of energy is the Hydropower. Hydropower is America’s leading renewable energy resource. Of all the renewable power sources, it is the most reliable, efficient and economical. TVA maintains 29 conventional hydroelectric dams throughout the Tennessee River system and one pumped-storage facility for the production of electricity (TVA.gov). Numerous institutional barriers exist, the main one being, in many countries, the difficulty in getting the concession to use and divert water from the river (and the renewal of the concession after the concession Period). Difficulties in gaining affordable connections to the grid are also common, as are very long procedures in order to get all permits since hydro operators have to deal with many administrations. The second alternative is solar water heating. Solar water heating, typically offsets fossil fuel combustion, reducing greenhouse gas emissions and other pollutants. Systems can help reduce peak loads, thereby postponing or preventing the need for additional base load energy generation and distribution infrastructure, such as new hydroelectric dams, coal-fired power generation stations, and underwater electrical cables.Over its lifetime, a solar hot water system easily pays for itself and further provides proofing against a trend of rising energy costs. According to the British Columbia Utility Commission, natural gas prices have increased an average of 12% per year since 1998. With gas prices on the rise, using a