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Could Renewable Energy Be Cheaper?

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Image source: www.antinuclear.net

Traditional electricity generation has played an important role in creating the civilization that we call our world today.

Electricity continues to be so important for general day to day activity and business such that we cannot imagine living in a world without electricity.

It has been proven by numerous studies, however, that the way in which we have been generating power is not sustainable and thus burdensome on the environment and the world’s climate.

Fortunately there are sources of renewable energy available to mankind for the generation of power, these include wind, water, biomass, geothermal and solar.

Even though these sources of energy have not been used widely, the escalating problems related to global warming dictate that we abandon the reliance on fossil fuels, and look to these sources to meet our electricity demand.

One of the ways in which renewable energy can be pioneered is by opening up the energy market for companies offering electricity generated using renewable sources of energy. To achieve this end, governments need to reconsider competition laws, so that big electricity companies that have market monopolies, are deterred from engaging in anti-competitive behavior.

There are also some market conditions that may make it difficult for renewable energies to strive when in competition with their fossil fuel counterparts.

For instance, government policy with regards to subsidizing fossil fuels can be a major factor in the pricing of electricity. Even though renewable energy is mostly primed on natural media like wind, it is not inexpensive to generate. Thus government would also have to do an overall assessment of law and policy that affect energy production, and make the necessary changes so that renewable energy producers have a fair chance at survival in prevailing market conditions.

The International Energy Agency has also warned that governments need to introduce strong policy and legislative measures to drive investment in efficient and low-carbon technologies.

Renewable energy producers have a very important role to play in the fight against global warming, governments have the responsibility to consumers and the environment to ensure that such producers are not shut out by hostile conditions that make the energy market inaccessible.

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