Renewable Energy refers to energy generated partially or entirely by non-depletable resources such as solar and wind. Renewable energy can be generated through small scale installations (e.g. rooftop solar panels) or in large centralized facilities (e.g. wind turbine farms). Other types of renewable energy can include low-impact hydro power, geothermal energy, biomass, and natural gas derived from biological resources (e.g. biogas).
Solar energy is a cost-effective, clean renewable energy resource.
Solar energy technology costs have been decreasing rapidly. Solar technologies provide significant benefits to the electricity grid. Once installed, solar panels provide power during the daytime when demand for electricity is highest. This helps lower electricity prices for consumers. Additionally, solar technologies can be distributed around the electricity grid, providing benefits in areas of the electricity grid that require greater support.
Energy efficiency and renewable energy sources lead to lower costs for all energy consumers, as both reduce demand on electricity producers, which lowers the cost to produce electricity. Clean energy can also reduce operating budgets through lower energy costs. In buildings, transportation and manufacturing, the less energy needed to perform a task, the less expensive it is to operate. Dollars saved go back into the pocket of the consumer or are spent elsewhere to grow the economy.
Renewable Energy provides a hedge against increasing fossil fuel commodity prices: The most expensive marginal costs of producing electricity are related to fuel expenses. Increases in the price of coal or natural gas can have major impacts on electricity bills. Energy efficiency and renewable energy have zero fuel costs. They provide a valuable risk management tool to hedge against fossil fuel and other fuel price increases, adding price stability to the electricity system portfolio. You can find a lot of renewable energy articles online to get more information and to learn more.