Over the past decade renewable energy techniques have received a lot of attention, particularly solar, and for good reason too. The Bloomberg New Energy Finance has predicted that renewables will continue to improve in both efficiency and cost and will soon become the cheapest form of energy in a number of countries over the next 25 years.
In many countries, solar power already costs around half the price of gas or coal, and significantly cheaper than wind energy too, so wouldn’t you swap if you could? In those countries where fossil fuels are still very much dominating the market, renewable energy sources are expensive. But, on average, solar power is now cheaper than ever and more and more large scale operations are appearing globally which helps in keeping costs down.
The more renewable energy projects that are set up the cheaper this form of electricity will become for us all. Bloomberg New Energy Finance has also predicted that renewable energy will prevail over any other form of technology throughout most of the world without the need for any subsidies.
Bloomberg New Energy Finance also reports that the decreasing costs of renewable energy is largely down to emerging markets such as Chile, India, South Africa, Brazil. And China too has taken on renewable energy methods in a big way and has become one of the global leaders in this field.
Moving forward, most countries will eventually adapt to renewable energy technology as their main source of power, it’s just a case of when. Solar power alone is getting much more sophisticated and projects such as the Crescent Dunes prove that we can even harness solar power at night, making it an even more efficient form of renewable energy. While on the opposite end of the renewable scale, commercial off-shore wind farms have also been opening across the world, including the one just recently began operating in the US. So, there is no denying renewable energy is the way to go. The next step now is making it available to all.
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