Sufficiency economy is the name of a Thai development approach attributed to the late King Bhumibol Adulyadej’s “sufficiency economy philosophy” (SEP). It has been elaborated upon by Thai academics and agencies, promoted by the Government of Thailand, and applied by over 23,000 villages in Thailand that have SEP-based projects in operation.
Three interrelated components and two underlying conditions are central to SEP’s application. The three components are reasonableness (or wisdom), moderation, and prudence.
Two essential underlying conditions are knowledge and morality. In contrast to the concept that the primary duty of a company is to maximize profits for the benefit of shareholders, SEP emphasizes maximizing the interests of all stakeholders and having a greater focus on long-term profitability as opposed to short-term success.
The Chaipattana Foundation says sufficiency economy is “…a method of development based on moderation, prudence, and social immunity, one that uses knowledge and virtue as guidelines in living.”
Sufficiency economy has much in common with Buddhist economics, the term coined and promoted in Small is Beautiful by E.F. Schumacher, a book translated by the king into Thai. Schumacher was a Christian whose thinking was influenced by what he observed in Burma.
Sufficiency economy is not a theory about how the economy of a country works, but rather a guide for making decisions that will produce outcomes that are beneficial to development.
A hydrogen car is a vehicle that uses hydrogen as its onboard fuel for motive power. The power plants of such cars convert the chemical energy of hydrogen to mechanical energy either by burning hydrogen in an internal combustion engine, or by reacting hydrogen with oxygen in a fuel cell to run electric motors.
Hybrid car is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain). The car starts by electric motor, When driving the car both fuel and electric motors are needed for its to keep in motion.
Electric car is a plug-in electric automobile that is propelled by one or more electric motors, using energy typically stored in lithium-ion batteries.
Renewable energy is energy that is collected from renewable resources, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.
Hydropower is power derived from the energy of falling water or fast running water, which may be harnessed for useful purposes. Since ancient times, hydropower from many kinds of watermills has been used as a renewable energy source for irrigation and the operation of various mechanical devices, such as gristmills, sawmills, textile mills, trip hammers, dock cranes, domestic lifts, and ore mills. A trompe, which produces compressed air from falling water, is sometimes used to power other machinery at a distance.
Wind power is the use of air flow through wind turbines to provide the mechanical power to turn electric generators. Wind power, as an alternative to burning fossil fuels, is plentiful, renewable, widely distributed, clean, produces no greenhouse gas emissions during operation, consumes no water, and uses little land. The net effects on the environment are far less problematic than those of nonrenewable power sources.
Solar energy is a clean energy and be friendly with the environment. The important equipment to store energy is Solar Cell that made of metal or polymer, they convert solar energy to be electricity.
Bio-energy is natural organic substances that accumulated energy inside body, such as grass, pulp, straw and bagasse which can be produced as fuel.