Renewable energy sources like solar and wind get a lot of attention in the news mainly because they can generate electricity without giving rise to any carbon dioxide emissions and because they are, well, naturally renewable.
While wind power is touted as an alternative for fossil fuel-fired power plants, some argue its shortcomings are too great to overcome. This includes wind power’s reliance of federal tax incentives, the fact that for most inland sites peak wind production hours don’t coincide with peak energy demand and the added cost of building transmission lines from high-wind areas to major cities.
Solar’s share of the power business remains tiny, but its promise seems great. The sun splashes more clean energy on the planet in one hour than humans use in a year, and daytime is when power is needed most. However, solar is still about three times more expensive than electricity produced by natural gas, according to estimates by the Energy Information Administration.
Natural gas is believed by many to be the most important energy source for the future based on lower costs and it is relatively cleaner than other fossil fuels. According to ExxonMobil, demand for natural gas for power generation is posed to rocket to 85 percent from 2005 to 2030. By 2030, gas will be providing more than 25 percent of the world’s electricity needs and will be well-positioned to become the top source for electricity production.
And when it comes to generating electricity, cost is a driving factor because power buyers and utility companies will seek to buy the lowest-cost power first, a fact that can benefit the end consumer.
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Winter is just around the corner, so now is a great time to look into your options before the heating season ramps up and the demand for gas-fired heating causes prices to rise. With the help of a certified energy advisor from Live Energy, you can manage the risks and reap the rewards of buying business electricity in a deregulated market. We’ll provide a detailed comparison of current electricity offers, and a whole lot more. For more information, call us today at 877-810-7700.