HOW SOLAR AND WIND ENERGY ARE CHEAPER THAN FOSSIL?

HOW SOLAR AND WIND ENERGY ARE CHEAPER THAN FOSSIL?

Solar power is the key to a clean energy. Every day, sun gives more energy than we need to get power on earth. This is the major reason that makes investment in solar plants as lucrative. Cost efficiency remains one of the main concerns of the sustainable energy industry. To make renewable as viable option for fossil fuels, they must be priced appropriately. In recent times, the industry surpasses this objective as solar and wind energy are now cheaper than fossil fuels. Solar energy is a renewable source of energy that is sustainable and totally inexhaustible, unlike fossil fuels that are finite. It is also an environmentally friendly source of energy as it comes directly from the sun and does not involve the burning of fossil fuels.

In most part of the world, renewable sources are affordable than other sources of power. This represents a beneficial for green energy. Larry Savage Jr shares following information on as how such shift happened.

Energy Subsidies One of the major cause that have made wind and solar as affordable includes government subsidies. To combat this climatic change, some of governments even offer consumers and business different subsidies to use sustainably sourced power. The introduction of monetary incentives reduces the cost of selecting renewable sources of energy. Although a sustainable sources costs more upfront but it proves to be cheaper over a period of time.

Various subsidies like tax holidays or government subsidy help to pay back a part of the initial costs. This leads to reduction in overall economic impact on end-users who seek to invest in renewable energy.

Latest Technology More and more people have switched to solar or wind energy and this will led to more efficient technology and will make renewable affordable. Wind and solar energy will become cheaper when improvement in science takes place. Some of the environmental factors like radiation from sun might lead to product failures. A balance must be creating between resilience and efficiency for best results. Larry Savage Jr says that modern green tech is always cheaper to produce, durable in nature and can harness more energy. The use fossil fuel technologies increases fuel efficiency and make them cheap for use. The advancements in green tech always lay a significant influence as no organization can control the supply of wind or sunlight.

Volatility Larry Savage Jr Birmingham imparts knowledge on market volatility as the availability of fossil fuels depends on sustainable energy industry. They never become cheap with a period of time. Renwable energy sources are finite and government can control the supply anytime thus creating volatility .

Future of Renewable Energy Solar and wind energy might seem to take long time to become a standard power but they are best choice for environmentally-conscious people as they make a better sense too. As technology continues to improve and more and more authorities investing in renewable and this will make it cheaper for use. Such resources will become more affordable whatever remains the future of fossil fuel market.

Larry Savage Jr launched LoWatts as an alternative energy with the primary focus of lowering the client’s cost by decreasing the consumption of energy while increasing the use of solar lighting and LEDs. Source Credit: https://larrysavagejrbirmingham.wordpress.com/2020/10/31/how-solar-and-windenergy-are-cheaper-than-fossil/

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