According to a new analysis of the energy think tank Ember, the cost of generating electricity from a power plant using fossil fuels is about twice the cost of generating electricity from a renewable energy source.
Ember’s findings news, reported on Yahoo !, arrived with the announcement of a mid-year analysis of the energy sector. The data presented surveyed the power generation of 27 major EU countries during the first six months of the year and compared it to 2019 during the same period in 2020 and before the pandemic.
Think tanks believe that the reason why electricity production from wind and solar is about 50% cheaper than fossil fuels is due to the continued cost increase of coal. In addition, as Covid’s regulations have been relaxed around the world, the current increasing demand for electricity is also having an impact.
Fossil fuels are being overtaken by renewable energy
Another notable finding from the study is that electricity use across Europe has “returned to pre-pandemic levels”, but the “consistent growth” of renewables far exceeds that of fossil fuels. It is included.
Compared to the first half of 2019, coal power generation decreased by 16%, but clean energy usage also increased in the first half of this year. This is because it supplies two-thirds of the electricity to 27 EU member states. I analyzed it.
More needs to be done to reduce reliance on fossil fuels
However, despite promising data suggesting a major shift to further production of renewable energy, Ember’s European leader Charles Moore “reduces reliance on fossil fuels for energy” and emissions. We are still looking for more to do to reduce the amount.
On this issue, Charles Moore said:
“There is a clear consensus. Without a short-term plan to ensure 100% clean electricity by 2035, it is no longer reliable for rich countries to target net zero by 2050.”
“Because the UK is hosting an important COP26 climate conference, the UK should make this promise and join Biden to promote a new high ambition coalition on clean power,” Moore added.
What does this mean for consumers
If this trend and preference for renewable energy continues with our energy creation, it could lead to more choices of green rates from energy suppliers. In addition to this, these prices can become more affordable as the market becomes more competitive. This means that energy prices will be cheaper in the long run.
In addition, the environmental benefits of reducing emissions will increase. In addition, the need to increase the supply of renewable energy can increase investment in facilities and farms, creating more environmentally friendly employment opportunities.
Whether this is the case has not yet been determined, but with online energy comparison services, you have the opportunity to switch to green energy rates that are ahead of the curve. With a quick review of the market, you will be able to see what the best energy deals near you-and always you will find that these are much cheaper than standard rates.
Even better, green rates have grown in popularity in recent years, and some of the best energy suppliers around are now offering them to their customers. This means that switching can save you a lot of invoices and get the most out of the excellent customer service these suppliers offer.
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50% cheaper to generate from renewable energy, according to new analysis
Source link 50% cheaper to generate from renewable energy, according to new analysis