When it comes to the future of renewable energy, there is always a level of apprehension to grasp on to it, even if the idea is innovative and has the potential to change your life. The topic of transition to renewable energy has been thrown around for several years now, and while it has proven to be more than an effective alternative to the use of fossil fuels, the majority of people, businesses and our Government (Federal, State & Local) still are not fully embracing its use.
The Current State of Fossil Fuel
To fully comprehend how renewable energy could change our future, we must understand how fossil fuels are currently utilized in the U.S. According to The National Academies of Sciences, Engineering, and Medicine’s website, the U.S. gets 81 percent of its total energy from oil, coal, and natural gas, all of which are fossil fuels. Coal is very abundant in the U.S. and is the cheapest to use. Intersect Energy provides alternative energy solutions, including on-site generation, reducing the demand for fossil fuels that negatively impact the environment while still reducing consumption costs.
The Costs of Renewable Energy
Spending and cost are always a contentious issue in creating Government policy and that is one of the biggest hurdles that renewable energy will have to face on the way to becoming mainstream. According to the Union of Concerned Scientists’ website, the average cost in 2017 to install solar systems went from $2,000 per kilowatt, for large-scale systems compared to a natural gas plant ranges from $1,000 to $1,700. If the government would choose to mandate the increase use of renewable energy, it would require higher capital expenditures to create new supplies of energy. Because of this difference, it requires government leadership to utilize strategic planning on deciding where renewable energy facilities would be utilized until such time the costs to install equalize.
However, more utilization of renewable energy could be offset by the Federal Government’s energy expenditures. According to Oil Change International’s website, it is estimated that subsidies to the U.S. fossil fuel industry range from $10 to $52 billion annually. Pursuing a renewable energy strategy could cut those figures down and the government would likely improve revenue collections by creating new jobs installing and maintaining new renewable facilities.
The transition to renewable energy would not change our future overnight. The short term benefits of jobs, taxes and lower energy costs would be visible sooner than the long term benefits of lower greenhouse gases and strategic energy independence that our current dependency on fossil fuel creates. Intersect Energy leverages government incentives allocated for energy reduction, navigates government bureaucracies in creating energy cost savings for their clients. Intersect Energy would like to provide you with information on the pursuit of clean and renewable energy for your business. For more information on Intersect Energy, click here.