An Overview of Renewable Energy
Chance are, you’ve heard of renewable energy. But the question is, what does the term or concept actually mean? Basically, there are four types of renewable energy sources:
In 2016, renewable energy accounted for about 12.2% of overall U.S. energy production. And the good news about these energy sources is that they will never deplete and will never produce any carbon dioxide emissions.
As a consumer, for the most part you will not be able to select your source of renewable energy. That is because renewable energy sources vary by state and region. The one exception is solar (you can install solar panels yourself).
As a point of fact, no matter what type of energy you use, electricity works the exact same way. There is no difference between wind, solar, coal or nuclear when it comes to the “quality” of electricity used to power your home. Truth be told, the electricity being delivered and served to your home is a combination of multiple sources.
That being said, the question on the minds of many is very straightforward: how can I, as a consumer, choose a 100% renewable energy plan?
In any and all renewable energy plans, your supplier buys an equivalent amount of renewable energy “credits” required to match the percentage of your overall energy use that comes from renewable energy sources.
In a nutshell, a renewable energy credit is basically a certificate that producers of renewable energy create. Suppliers can buy these certificates which, in turn, help fund and finance additional various green energy projects.
The goal of choosing a 100% renewable energy plan is that you can help the U.S. and the world create a cleaner, greener future.
The Future and Outlook of Renewable Energy
The global investment bank Citigroup formulated a report entitled the “Age of Renewables is Beginning” indicating that the pricing for renewable energy is becoming increasingly competitive with fossil fuel and non-renewable energy sources.
They also forecast that today’s traditional energy prices will continue to rise in the future which will open the door for less expensive renewable energy sources.