Solar and wind power are becoming more economical to generate than fossil fuels, and are looking like the smart choice economically in the long-term. And, that’s when leaving out all the other side benefits of clean, renewable energy like a more sustainable energy source, less damage to the natural world all around us, and national energy security.
Why is this exciting news? Because it signals that renewable energy is no longer considered “alternative energy.” And, it reflects that more people and businesses are adopting energy sources like wind and solar to power their homes and businesses. The clean energy revolution has clearly taken hold and isn’t slowing down.
The Demand for Clean Energy is Strong and Growing
At the beginning 2017, when building new energy capacity, solar and wind were the same price or cheaper than fossil fuels in more than 30 countries, including Australia, the United States, Spain, and Italy. Other countries including the United Kingdom, Brazil, China, India, and Mexico are set to follow in less than five years. The prestigious World Economic Forum made the statement that, “Solar and wind have just become very competitive, and costs continue to fall. It is not only a commercially viable option, but an outright compelling investment opportunity with long-term, stable, inflation-protected returns.”
That is a huge development—and a shifting tide towards a clean energy future for the planet. Increasingly, the cost/benefit analyses of dirty energy and clean energy all land squarely in renewable energy’s favor. While the cost for new renewable energy development is currently more than delivering dirty fossil fuel energy, it’s because the fossil fuel industry has an established infrastructure that was created at mass scale many years ago. As more people choose clean energy, a snowball effect for it has been started that’s becoming too big and too strong to stop.
A Young Industry is Growing Up
Much of this progress has come thanks to the support of government incentives around the world and in the United States. Between 2007 and 2015, the United States spent between $50 billion and $80 billion on subsidies to support the wind and solar industries. That initial incentivizing worked because subsidies are now no longer needed for the solar and wind industry to keep growing.
From another perspective about growth, clean energy has already been a good return on investment in some ways that aren’t always tangible, like human health. In 2017, researchers calculated that in that same period, the United States reaped between $35 billion and $220 billion in benefits from a healthier population taking fewer sick days due to mitigating climate change effects.
So, what would inspire you to choose clean energy? Whether you worry about the country depending on foreign oil, want more control over where your energy supply comes from, or are looking for ways to help save the planet, there are many reasons to choose clean energy.
You can make a difference now towards a cleaner future now by choosing 100% clean energy for your home or business. CleanChoice Energy supplies customers with 100% renewable energy from wind and solar. Learn how you can easily switch your home or business to 100% pollution-free clean energy today.