As the name suggests, any energy source that does not get depleted is known as renewable energy. The energy produced by wind and sunlight are the best examples of renewable energy. Unfortunately, people have become so used to gasoline and other petroleum products that they look at renewable energy and renewable energy jobs with scorn. Today, technology has advanced quite a bit and as a result the cost of production for renewable energy has reduced compared to what it was a few years ago. However, often people are worried about the associated cost of using renewable energy because it is more expensive than other forms of energy.
Cost of Renewable Energy So, what is renewable energy cost?
Well, the cost of renewable energy is dependent on the type of energy you want to use and on what scale. While the initial investment may be high, over the course of time this cost is recovered. Hence, the initial money that you spend on installing any form of renewable energy should be viewed as an investment and not an expense. Renewable energy can help you save on your electricity bill and also heating bill. With time, these savings will help to offset the initial amount that you spend on installing renewable energy. Modern interest in renewable energy development is linked to concerns about exhaustion and greenhouse gases of fossil fuels and environmental, social and political risks of extensive use of fossil fuels and nuclear power. Renewable energy is not subject to sharp price changes because it comes from sources such as sunshine, flowing water, wind, and biological waste, all of which are free.
What is the type of Renewable Energy You Can Use?
The type of renewable energy that you can use depends on where you are living. If you live in a place that gets ample sunlight, you will be better off using solar panels to capture solar energy and use it to light and heat your home. On the other hand, if you live in a place that is extremely windy, you should be looking at wind energy. Hydro energy is another form of renewable energy that is prevalent in many countries. However, transporting energy from the water source to a home is expensive. Hence, this type of renewable energy is not feasible for individuals. Governments can employ a number of strategies to improve the competitiveness of renewable energy.