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Cheapest Form of Clean Energy

Cheapest Form of Clean Energy

The cheapest form of clean energy is solar and wind power. It is not only free, it is also a non-polluting and air pollution-free source of energy. In fact, it has become the cheapest form of renewable energy in most major countries.

Renewables can now produce more than a fifth of global electrical power. As a result, these sources are becoming increasingly efficient.

For instance, photovoltaic solar power is now cheaper than coal in most countries. Wind is a clean energy source that has also become more competitive. And hydroelectric technology is inexpensive.

Another benefit of these sources is that they are able to meet growing demands for energy. They also reduce carbon dioxide emissions. However, they are not without costs.

Coal, natural gas, and nuclear fuels all have significant life-cycle greenhouse gas emissions. So it is imperative to invest in alternatives. These investments will lower demand for fossil fuels and help protect the economy from volatile energy markets.

According to the International Energy Agency (IEA), the cost of generating power with renewables will be 40% cheaper than a new coal or gas-fired power plant in 2021. Moreover, new renewable power generation will be more than double the capacity of coal plants.

Meanwhile, a study released by the IEA found that if every country in the world invested in solar and wind power, carbon dioxide would be halted by 2030. This would cut greenhouse gas emissions by almost 3 gigatonnes of CO2 per year.

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