Coal and fossil fuels are cheaper; that is why a big portion of energy comes from these sources today. Although it was expensive at one time, the falling prices of solar and wind over the past decade had changed the game. Seems exaggerated but the cost has dropped more than 80%. Just 10 years ago, Solar was the most expensive option for a new energy source development.
For a very long time, the companies and organizations in the country have avoided investing too much in renewable energy sources like wind and solar. Why? Just on the grounds that they are more expensive and less reliable than traditional forms of energy generation. Thankfully now, when it comes to the cost of energy from new power plants, onshore wind and solar are now economical sources. Also, through recent advancements in technology, they have become more reliable too.
Not only high earning businesses are able to obtain these new energy sources, solar has come to a point where it is affordable to the average homeowner (Not to forget the various federal as well as state rebate programs).
The story behind the plummeted costs of solar
The advancement in technology is the main reason but the real debut of solar was when it was a general-purpose energy source by businesses. After that technology became more advanced and being adopted for more niche purposes, the cost further declined. Since then, the cost of solar modules decreased as the capacity has increased.
It is worth mentioning that the government has also invested huge sums in terms of the advancement of technology and in terms of tax rebates and/or incentives to push the adoption of renewable energy in public.
Whereas in the case of fossil fuels and coal, they must first buy the mines, extract the same, transport and have proper disposal which is a costly operation. It is said that only the transportation of coal is about 40% of total expenses. However, wind and sunshine are free to everyone. Just install the system and tap into an unlimited amount of energy.
Go Green! Go Solar!
In news or in articles, you frequently read about the shutting down of coal plants across the country but the oil, on the other hand, still accounts for a very large share of pollution emission. In fact, transportation accounts for more emissions than any other sector in the country.
It is proven that making optimum use of the Sun’s energy can fulfill all of our electricity requirements. Then why not use it? Luckily, the auto industry is rapidly moving away from oils to hybrid and electric vehicles. Considering some notable advancements in technology electric vehicles (EV) will dominate the auto market by 2030.
It is true that the sun is not always up, and the wind is not blowing all the time. Further energy distribution infrastructures also need major revamp or redesigning. It is also correct that it is likely to be several years before we overcome these problems but by the time other new technologies such as battery storage advancement and systems for shipping electricity might be available to smooth out irregularities.
There is enough evidence to prove that demand for electricity will only go up, therefore, shifting to solar power has the potential to drive us away from coal and oil, which cost thousands of dollars, in the years to come.