There are numerous factors to consider when it comes to electricity pricing. The electricity market is influenced by supply and demand fundamentals and can be extremely volatile – especially in deregulated, competitive markets where supply and demand are influenced by numerous outside factors. While different components contribute to retail electricity supply rates in different markets and regions, it is critical to understand what drives electricity pricing to develop a strategic procurement plan. The Reliant Energy Plans are one of the major resources.
The benefits of renewables, such as cleaner air, lower carbon emissions, natural resource conservation, and significant long-term savings, are known for a very long time. The following is a summary of these factors, with links to more detailed explanations.
- We have taken up renewables at a remarkable rate in the United States, with clean energy now for the first time in the modern era overpowering coal. To decarbonize our power and transport networks, we are seeing wind farms, solar panels, hydropower stations, and even large-scale batteries throughout the country.
- However, as is the case with any other form of technology, if we wish to create a world free of emissions, we need to recognize the disadvantages of renewable energies.
- A supply of fuel that does not run out
- Renewable energy is generated from natural sources – such as sunlight, wind, water, biomass, even geothermal heat, as the name suggests.
- In contrast to coal, oil, and gas mining – requiring extensive heavy machinery networks, processing plants, pipelines, and transport – renewables directly convert natural resources into energy. And, while many fossil fuel sources are becoming increasingly difficult and costly – leading to natural habitat losses as well as substantial financial losses – renewable energy does not run out.
- Perhaps the most important advantage of renewables is that no greenhouse gases or other pollutants are created. While coal-fired power plants produce about 2.2 pounds of CO2 per kilowatt-hour of electricity – solar panels and wind turbines do not generate any.
- Renewables help provides us with emission-free energy, heat, cars, and even air travel when we are trying to decarbonize our world and use energy sources that do not contribute to global warming.
- Now solar and wind power are in many parts of the world the cheapest sources of electricity, with the rapid renewable energy growth of the recent years. A new sun farm recently secured the lowest price of solar power in the world at just 1, 35 cc per kilowatt an hour in the United Arab Emirates, an area famous for its abundance of land and sunny weather.
- The drastic fall in solar and wind costs even resulted in the focus on renewable energy investments for many of the fossil fuels multinationals – including six major oil companies. While green energy originally was a clean but costly solution – it now helps to minimize power consumption for all ovarian people.
- Creates new jobs for renewable energy
- One of the surprising advantages of renewables is that it quickly became an important source of employment growth, as it is focusing more and more on global warming, and many governments setting ambitious carbon reduction targets.
- Renewables in the United States are now employing 3-times more than fossil fuels, and the statistics office predicts that in the coming decade, wind turbine techniques and installers of solar panels will be some of the fastest-growing jobs. Moreover, many renewable energy jobs also pay above-average wages over millions of people to work over long periods.
- Most importantly, we should remember that the best way to reduce CO2 emissions is in the first place to reduce our electricity and gas consumption, despite the many advantages of renewable energy.
- As persons, as communities, and as a country, we should strive to improve the use of energy, transport forms, and consumer choices and then use smooth energy to satisfy our remaining needs. If renewables and sustainable lifestyles are successfully combined, the creation of an emissions-free world will be much quicker, not to say much cheaper.