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Which is the Cheapest and Most Environmentally Friendly Source of Electricity?

Which is the Cheapest and Most Environmentally Friendly Source of Electricity?

The most frequently cheapest energy sources are unsubsidized renewables. These include wind and solar power. They meet growing demand and are also cheaper than fossil fuels. As technology improves, the cost of these renewables will continue to fall.

Although these sources of energy are environmentally friendly, they have some negatives. There is a significant amount of land needed for solar and wind farms, and they are both expensive to build.

In addition, the construction of reservoirs and dams can take a long time and require large amounts of money. Also, accidents can happen during the construction or transportation of fuels.

Despite these concerns, renewables continue to outperform earlier estimates. According to the International Renewable Energy Agency, the global cost of renewables continues to drop rapidly. It estimates that renewables will be the cheapest source of electricity in two-thirds of the world population by 2020.

Solar and wind power continue to dominate the cheapest new sources of electricity. Wind and solar promise to supply carbon dioxide-free energy in the United States within ten years.

Renewables have already made a big impact on the world’s energy system. More than one fifth of the world’s electrical power production is now generated by renewables. This is expected to grow to more than half of the world’s electricity by 2050.

Renewables are also cheaper than the cheapest fossil fuels. Compared to natural gas and coal, the average cost of hydroelectric, solar, and wind power is $0.05 per kilowatt hour.

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