Renewable energy is becoming affordable

The cost of wind power fell 61 percent while the cost of solar energy fell a full 82 percent.

by Beth Day Romulo

March 18, 2016

For a number of years, the production of renewable energyfrom the sun and the windlanguished because it was considered too
expensive to produce. Now, however, the picture has changed. According to a recent report by the Lazard investment fund, the cost of
electricity generation, using wind power, fell a whopping 61 percent in the years from 2009 to 2015. And the cost of solar energy, from
the sun, fell a full 82 percent. This puts renewables into a price range that is competitive with fossil fuels, coal, or oil.

One of the principal arguments used against the development of renewable was that a customer might want electricity at a time when
the sun wasnt shining or the wind wasnt blowing. But improvements in storage facilities have taken care of that problem. Now, the
major problem is financial. In the US, under the Obama administration, tax credits for renewables were part of the Presidents stimulus
plan. The Environmental Protection Agency has also come up with Clean Power Plan, which will create strong incentives for people
to move away from dirty coal. The progress in the use of renewables that we are seeing today can eventually build renewables into a
powerful interest group.

At the United Nations climate talks in Paris last December, 36 countries, including the Philippines, started an initiative to promote
geothermal energy in developing countries as a cleaner alternative to oil, gas, and coal. The Global Geothermal Alliance aims to
increase geothermal electricity production by year 2030. This will mean tripling the present production.

Renewable energy is becoming affordable

The cost of wind power fell 61 percent while the cost of solar energy fell a full 82 percent.

by Beth Day Romulo

March 18, 2016

I. History of renewable energy production

A. In the old times
1. Feeble due to its expensive production
B. In the present time
1. 61 % decrease in wind energy production from 2009 to 2015
2. 82% decrease in the solar electricity generation
II. Renewable energy productions problems and solution
A. Need for electricity despite of the suns and winds lack of presence at a particular time
answered through construction of improved storage facilities
B. Financial problem in the production responded by Obamas implementation of tax credits
for renewables
C. Health risks posed by the production in power plants reacted through the Clean Power
Plan
III. Promotion of renewable energy worldwide
A. 36 countries in the United Nations meeting encouraging other developing countries uplift in use of
geothermal energy
B. Goal of Global Geothermal Alliance
1. Tripling the geothermal electricity production by year 2030

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Disclaimer
The article entitled Renewable energy is becoming affordable is not owned by this user. The information contained in
this document is for guidelines in outlining purposes only.