Why Does Renewable Energy Cost More Than Fossil Fuels

In fact renewables like solar and wind power apart from construction and maintenance don t emit any co2 at all.

Why does renewable energy cost more than fossil fuels.

Renewable energy will be cheaper than fossil fuels in two years according to a new report. In terms of reliable application coal and natural gas have the edge. For the first time in history the production cost of renewables is lower than that of fossil fuels an industry asset manager has claimed. Experts predict that investment in green infrastructure projects will lead to decreases in the cost of.

In 2018 those fossil fuels fed about 80 of the nation s energy demand down slightly from 84 a decade earlier. First of all the price of fossil fuels usually doesn t include externalities like damage to the environment during extraction or production air pollution and green house gas emissions. In terms of environmental impact solar power is a much more optimal resource than fossil fuels. By 2020 the renewable power generation technologies now in use will be at the lower end of the fossil fuel cost range or even cheaper than fossil fuels.

Although coal use has declined in recent years natural gas use has soared while oil s share of the nation s energy tab has fluctuated between 35 and 40. Even the most expensive renewable energy technology concentrated solar power csp is competitive against fossil fuels in some circumstances. With renewable energy you can breathe easier stay cooler and create a more comfortable world for generations to come. In a recent note to its clients hamburg germany based.

Increased support for renewable energy could create even more jobs. The 2009 union of concerned scientists study of a 25 percent by 2025 renewable energy standard found that such a policy would create more than three times as many jobs more than 200 000 as producing an equivalent amount of electricity from fossil fuels. Although renewable energy is growing it still needs extra investment up front in comparison to non renewable energy. Renewable energy on the other hand typically emits less co2 than fossil fuels.

The ultimate way to compare solar energy to fossil fuels is by cost where solar has quickly caught up with its non renewable counterparts.