What role should institutions like Congress, EPA, etc play in promoting the use of renewable energy?

SOURCE: Financial Express

The economic principle I'm exploring is institutions are the "rules of the game" that influence choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my final post I will focus especially on what role institutions like Congress and the EPA should play in promoting the use of renewable energy.

After years of attacks on environmental safeguards, it's time to restore and strengthen the most important protections, and install solutions that benefit all American families, especially those most vulnerable to the effects of pollution and climate change.

The new Congress should make these steps a key part of its agenda, advance towards eliminating climate pollution by 2050, defend the EPA’s capacity to protect the public’s health from pollution and toxic chemicals, and preserve environmental safeguards that protect our air, water and land from polluters.

As far as why the government would invest in renewable energy resources, these would include energy security and affordability, the potential for job creation, future economic strategic positioning, and addressing environmental and other externalities. Having an institution as large and important as the government promoting renewable energy resources would increase the amount of investment put into it by a lot and the whole world would benefit.

Sources:

The Hill

Financial Express

SITN

How much more expensive are renewable sources than nonrenewable sources?

SOURCE: ResearchGate

The economic principle I'm exploring is institutions are the "rules of the game" that influence choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my fifth post I will focus especially on how much more expensive renewable energy sources are than nonrenewable sources.

In reality the cost of wind power is about $30-60 per megawatt-hour, and large-scale solar costs about t$43-53/MWh. For comparison, energy from the most efficient type of natural gas plants cost $42-78/MWh; coal power cost at least $60/MWh. So in terms of output and the amount of money you get back most renewable energy resources are way more cost efficient than their nonrenewable counterparts.

New research shows that in the long-run, renewable energy is more cost effective than non-renewable energy. Some energy companies considered costs over the lifespan of energy projects and found wind and utility-scale solar can be the least expensive energy generating sources.

It is true that most renewable energy sources are very expensive to install and may take quite a lot of time until you are able to break even with the money you spent on it but in the long run renewable energy sources are more cost effective and safer for our environment.

Sources:

UCS

Nature's Path

Research Gate

Which country relies the most on renewable energy sources?

SOURCE: C&G Law Office

The economic principle I'm exploring is institutions are the "rules of the game" that influence choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my third post I will focus especially on which country relies the most on renewable energy sources.

According to Click Energy, “Iceland generates the most clean electricity per person on earth, with almost 100% of its energy coming from renewable sources that make the most of its unique landscape.”

When they say “make the most of its unique landscape” it is referring to how Iceland is defined by its dramatic landscape with volcanoes, geysers, hot springs and lava fields. Most of the population lives in the capital, Reykjavik, which runs almost completely on geothermal power from the abundant volcanic activity under the Earth’s crust in Iceland.

According to Inspired by Iceland, “Abundant renewable power and a favorable business environment have brought investors to Iceland who wish to limit the carbon footprint of energy.” Fossil fuels are still used in transport in Iceland. Ships, planes and cars still run on conventional energy, although electric vehicle ownership is growing quickly.

Recently there have been large investments in charging stations all over the country. The government’s policy of reducing the country’s reliance on imported fossil fuels has really taken off the past few years and is paving the way for other countries to start moving over to 100% renewable energy as well.

Sources:

Inspired by Iceland

Click Energy

Iceland Renewable Energy

There is not a scarcity of wind, light, or flowing water so why not use it more often?

SOURCE: The Electrochemical Society

The economic principle I'm exploring is institutions are the "rules of the game" that influence
choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my third post I will focus especially on the availability of these renewable resources.

Wind: The potential of wind power is enormous more than 20 times greater than what the human population needs. The problem is harnessing all of that energy for redistribution to further improve our lives now and in the future. Obviously the wind is a constantly changing natural force, which makes it difficult to transfer all of that potential energy into batteries. We just simply cannot create enough electricity from wind power to power a city for example.

Solar: Solar power is energy from the sun that is converted into thermal or electrical energy. Solar energy is the cleanest and most abundant renewable energy source available, and the U.S. has some of the richest solar resources in the world. The great thing about solar is it can be produced and consumed as needed, by anyone, rich or poor, and anywhere, in remote areas and city centers. 

Hydro: It is very available, Hydro energy generates power in every region of the country and is America's largest source of clean, renewable electricity. Hydro power requires only the power of America's moving waters rivers, streams and ocean tides to generate electricity so it is very easy to obtain since we have a lot of place in the US that have access to fast moving waters.



Sources:

Wind Energy

Solar Energy

Hydro Energy

Why are we not taking renewable energy sources as seriously as we should be?

SOURCE: MIT Energy Initiative

The economic principle I'm exploring is Institutions are the "rules of the game" that influence
choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds quite promising right? Then why aren't we taking full advantage of this newly found energy source? There are many reasons why actually, for this first post I will focus especially on cons of Solar Energy because all renewable energy sources are pretty similar in these circumstances. Many of these points came directly from Advantages & Disadvantages.

• Cost: "The initial cost of purchasing a solar system is fairly high. This includes paying for solar panels, inverters, batteries, wiring, and for the installation."
• Weather Dependent: "Although solar energy can still be collected during cloudy and rainy days, the efficiency of the solar system drops. Solar panels are dependent on sunlight to effectively gather solar energy. Therefore, a few cloudy, rainy days can have a noticeable effect on the energy system. You should also take into account that solar energy cannot be collected during the night."
• Storage Is Expensive: "Solar energy has to be used right away, or it can be stored in large batteries. These batteries, used in off-the-grid solar systems, can be charged during the day so that the energy is used at night. This is a good solution for using solar energy all day long but it is also quite expensive. In most cases, it is smarter to just use solar energy during the day and take energy from the grid during the night."
• Uses A Lot Of Space: "The more electricity you want to produce, the more solar panels you will need, as you want to collect as much sunlight as possible. Solar panels require a lot of space and some roofs are not big enough to fit the number of solar panels that you would like to have. An alternative is to install some of the panels in your yard but they need to have access to sunlight."
• Associated With Pollution: "Although pollution related to solar energy systems is far less compared to other sources of energy, solar energy can be associated with pollution. Transportation and installation of solar systems have been associated with the emission of greenhouse gases. There are also some toxic materials and hazardous products used during the manufacturing process of solar photovoltaics, which can indirectly affect the environment."
• Requires Exotic Materials: "Certain solar cells require materials that are expensive and rare in nature. This is especially true for thin-film solar cells."
• Not Suitable for Every Home: "Some roof types are less compatible with solar. It is difficult for solar installers to work on slate and wood roofs, because these roof materials are brittle and can break. They require specialized mounting components and equipment because installers can’t walk on the roof without damaging it. This means that installations on slate and wood roofs are more expensive."
• Hard to Sell House with Solar: "Many people will hesitate to put solar panels on their house because they may not be living there indefinitely. A lot of the time people relocate due to changes in jobs and it may be hard to sell a home with solar panels on it."

In my next blog post I will research the question: There is not a scarcity of wind, light, or flowing water so why not use it more often?

Sources:

Energy Explained

 

Institutions are the “rules of the game” that influence choices.

Overall Question:  What role should institutions like Congress, EPA, etc play in promoting the use of renewable energy?

Sub Questions: 

There is not a scarcity of wind, light, or flowing water so why not use it more often?

Which country relies the most on renewable energy sources?

How much more expensive are renewable sources than nonrenewable sources?

Resources: 

• EIA
• Climate Council 
• Renewable