For years, one of the major problems with green energy, or clean energy, has been cost. Many people would prefer to power their homes and businesses with environmentally sound methods, but unfortunately that can sometimes break the bank. However, as developments in solar and wind power have advanced, the cost has taken a steep downhill turn. The best news: it’s no longer staggeringly expensive.
In fact, according to an August 2013 report from Lazard (“Lazard’s Levelized Cost of Energy Analysis”), the cost of renewable energy has dropped by a whopping 50% in just five years. That means that the value of investing in renewable energy will only continue to increase as time goes on.
Similarly, in three European countries—Spain, Germany, and Italy—solar power has achieved price parity with conventional fossil fuel methods of electricity generation. According to a report from Leonardo Energy, solar energy costs the same per kilowatt hour (kWh) in those countries.
Germany is the world’s number one photovoltaic installer and has set a progressive goal of generating enough renewable energy for 35% of its total usage by 2020—just six years down the road. By 2050, it plans to make that 100%.
As we move into the future, the path should be clear—we need to pursue renewable energy as aggressively as possible and without fear. Not only will this allow the civilized world to be less environmentally devastating, but it will also provide much needed jobs around the world. What’s not to love?