Traditional fossil fuels have long been the standard for energy in the world. Though, with new technologies, renewable energy is giving traditional energy generators a run for their money. Renewable energy is closing the gap on cost effectiveness and efficiency at a rapid pace, and the technology only continue to improve every day. Let's take a closer look at the numbers to see exactly why renewable energy is the better energy choice.
Both traditional energy and renewable energy sources have a lifetime cost associated with them. This lifetime cost includes figures such as the price to construct a plant, install equipment, and then continue to run the plant to generate power.
Often, renewable energy source,s such as solar power and wind power, are criticized because of the high installation costs associated with the equipment. Comparing the final lifetime costs, though, renewable energy is the clear winner.
A traditional coal plant costs $119.10 per MWh of energy produced. Compare this to solar energy, which costs $63.20 MWh, land wind-based energy at $59.10 MWh, or even geothermal energy at $44.6 0 MWh.
Lifetime energy production costs are one thing, but how does this translate to the actual operation of a building? Owners and managers of a building care about operational costs and want assurance that renewable energy is the right choice.
For years, traditional energy sources, such as coal and gas, have long led the way as the cheapest option. On average, fossil fuels cost around $0.05 per kWh, while natural gas energy costs about $0.03. With new emerging data and better technologies, commercial solar costs an average of $0.029kWh making renewable energy the leader for the most cost-effective energy source. Plus, solar power has the added benefit of being a clean energy source. There is no heavy carbon pollution, no strip mining, and no damage to the earth with a solar power installation.
The best part about renewable energy sources is that the technology only continues to improve. Build techniques are dropping the price of wind and solar power by significant measures. For instance, the costs to build and operate both solar and wind power have dropped 18% since measured in the early part of 2017. Further, battery technology has fused with renewable energy to make it possible to store energy longer. Not only does this mean you benefit from uninterrupted service to the building, but it allows the possibility to return unused energy to the grid.
Many utility companies will only charge you for the difference between energy used and energy donated to the grid. Often, building owners start to see their renewable energy work for itself and create a free utility bill.
Contact Gausman & Moore Today
The engineers at Gausman & Moore are passionate about renewable energy. Not only is renewable energy sustainable and less destructive to our environment, but it is a clean energy source at a cheaper price. Whether you are constructing a new building or would like to integrate renewable energy into your existing structure, the experts at Gausman & Moore can help.
To learn more about the renewable energy projects we have been a part of in the past, contact any of our offices today. We have offices in Minneapolis, MN; Santa Clarita, CA, and Duluth, MN.