The value of just about any industry is one of the things that make it so appealing to people within a country, and renewable energy is no different. In the past, people assumed that renewable energy was great for the earth, but not for people’s pockets or the economy. This is one of the reasons why it has taken so long for it to take off. It is time people understand that renewable energy is valuable for a variety of reasons.
A service that is cost effective to the consumer tends to be good for the economy, particularly if it is a basic service, and this is one of the things that is currently making renewable energy so appealing. As Adam James explains;
Some wind developers are signing long-term power-purchase agreements in the 3 cents a kilowatt-hour range, far cheaper than any other new power source.
This means that renewable energy isn’t just for the elite. This power source is now available to just about anyone who is interested in benefiting from it. This source is finally competing well with power sources such as natural gas, making it s sustainable option for the long run, as well as a valuable economic tool. In many instances, this power source is actually cheaper, making it a financially more viable option than fossil fuels. This is reason enough to consider converting over to these energy sources rather than sticking to the outdated and fast depleting resources.
Creating More Jobs
It is no secret that job creation is great for the economy, but what most people don’t realize is that it can actually create about three times the jobs that are created within the fossil fuel industry. Job creation within the wind energy sector has created about 75,000 jobs, and if the country is able to obtain about 20% of its power from wind energy, this number could end up rising to about 500,000.
It is not only the fact that more jobs are being created within the renewable energy field that makes this industry so exciting, but also that the quality of these jobs is higher. According to a recent study, the jobs created within this sector will require about double the high and medium credentialed jobs as those created in the fossil fuel industry.
Wages are also thought to go up within the green sector. The median salary within this sector is just over $45,000, which is much more than wages offered across the board, including those within the fossil fuels sector. It is believed that the wages are higher within the green energy field than the industry concerned with fossil fuels, making it all the more exciting.
Improving Grid Reliability
Failing power plants have cause major difficulties around the world. In 2011, a power plant in Texas failed and disaster was averted only because of the wind farm’s that were being utilized in the area.
Because of this reliability, sustainable energy is being utilized from the Americas to Asia, including islands that do not have access to power grids. According to Foerd Ames;
If well connected, growing island independence symbiotically supplies more reliable power to mainland grids.
It is solutions such as these that is turned the field of renewable energy into one of the most popular industries in the world at the moment. While this energy source has been around for centuries, it is still being introduced into the modern world and it is about time that we make the leap into a fully sustainable energy source that is not only beneficial for the environment, but also for the pockets of all involved.