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Renewable energy is becoming fast-evolving and rendering fossil fuels obsolete. You may still think: what is the difference between fossil fuels and renewable energy? What does all of it mean? And why should I be concerned? If you had any of these questions, then you’re in luck; as in today’s article, we’d answer these questions and outline things you need to know about both sources of energy to help you understand current market trends for both items.
The Difference
The difference between the two is very straightforward. Renewable energy comes from natural sources that can be replenished and include the following:
- Solar
- Wind
- Geothermal
- Biomass
- Hydro
Fossil fuels, on the opposite hand, take up to several years to naturally replenish. They are:
- Natural gas
- Oil
- Coal
These are the significant energy sources that power various parts of our homes, organizations, recreation and leisure centers, and our lives. Switching from one energy source to another for cheaper rates is rapidly becoming a necessity due to various economic changes and the ever-pressing need to save and invest. Making this switch has become even easier with electricity compare.
Electricity compare allows you to compare various energy providers and their rates and subscription plans to find the best and cheapest fit for your home or business.
Domination
Currently, fossil fuels are the primary form of energy being utilized in most parts of the world. Natural gas leads the pack at 34%; it is closely followed by coal which accounts for 30% of use, with nuclear and renewable sources accounting for 20 and 15%. Looking at the current numbers, it is clear that renewables are down the pecking order.
Current Trends
Natural gas has increased its market share tremendously over the past decade due to increased fracking activity. The energy industry yearns for natural gas and would go to any length to extract it. Nevertheless, renewable fuel has grown faster than any fossil fuel. In the United States, renewable energy generation grew to 22 gigawatts of capacity.
In Texas, wind power is by far the most used renewable resource with up to three times the megawatt capacity of any other state, with a grid that aids the efficient delivery of wind-generated electricity.
Cost
Formerly, renewable energy was thought to be very expensive. These days the energy produced by renewables is affordable as that produced by fossil fuels and, in some cases, cheaper. Some solar panels generate power at half the cost of fossil fuels like coal. These directly lead to potential savings, with the cost of renewable energy projected to become even cheaper over time.
Environment-Friendly
Since the beginning of the industrial revolution, the earth’s temperature has increased at a tremendous rate. Fossil fuels contribute to this rise in temperature while producing by-products like air pollutants – chlorofluorocarbons and smog, which adversely affect the health of your lungs. Renewable energy, unlike fossil fuels, typically emit little to no CO2. With renewable energy, you can breathe more accessible, more relaxed, and create a better world for generations to come.
Thinking of switching to renewable energy? It has never been easier. With energy compare, you select the best energy provider based on your home or organizational needs while saving a lot of money on electricity bills.
Best Alternative
Three renewable energy sources serve as other options for fossil fuel:
Wind Power is a clean energy source that’s gotten when a wind turbine converts kinetic energy from the wind to mechanical energy. Prices of wind power in Australia are between 0.007$ and 0.15$ per kWh. Turbines are large and require space to set up.
Solar Energy – Electricity is converted into sunlight using solar energy. It can be used commercially, with large solar farms, or domestically by setting up solar panels on a home roof. The price of solar energy is $0.12 per kWh. Solar panels that are domestic clear electric bills, but initial installments are costly.
Hydroelectric Power – with hydroelectric power, electricity is generated when a generator is powered by water that flows through a turbine. The average cost is 0.003$ kWh, and it is why it is the cheapest source of alternative energy.
Each alternative energy source has its pros and cons; luckily, electricity compare allows you to compare different energy providers and pick one that best suits your home, lifestyle, and pocket.