For a long time, renewable energy sources were regarded as a cleaner, but more expensive alternative to fossil fuels.
Renewable Energy is Getting More Affordable
However, the cost of clean energy has dropped dramatically over the past two decades. In many parts of the world, solar and wind power can now undercut the price of coal power, while eliminating the associated emissions.
Renewable power can now compete with fossil fuels in price, but there is still an important challenge to overcome. Fossil fuels can be stored to produce electricity at any time, while many clean power systems depend on variable inputs.
- For example, solar panels only generate electricity during the day, and their production concentrates around noon. Wind turbines have a similar limitation, due to their dependence on wind speed.
- Hydroelectric and biomass power plants can produce electricity on demand, since their energy input can be stored. However, hydroelectricity requires specific geographic features to be viable, while biomass requires a constant supply of wood, plant and organic waste.
Energy storage and the Internet of Things can greatly increase the value of renewable energy. When energy storage systems are combined with solar panels and wind turbines, the variable power output is no longer an issue. If the battery is kept charged it can supply power on demand, even when there is no generation.
The Internet of Things to Achieve Synergy with Renewables
The Internet of Things (IoT), can also achieve synergy with renewable energy, since the generation capacity is often distributed among thousands of homes and businesses. Coordinating all this power generation is much simpler when all systems are connected to a smart platform.
Benefits of Renewable Generation at the Point of Use
When electricity is generated at power plants and delivered through the network, there are transmission and distribution losses. The grid must also handle the peak load: it normally occurs on the hottest summer days, when many buildings are using their air conditioning systems at full capacity.
Renewable generation systems in homes and businesses produce electricity at the point of use, reducing the load on the power network. This also eliminates the transmission and distribution losses, contributing to energy efficiency.
Energy storage systems can be programmed to deliver electricity when the grid is experiencing peak load. This maximizes savings for homes and businesses, since power companies charge their highest kWh prices during peak demand hours.
Power companies also benefit from a peak load reduction
- They can rely less on the most expensive power plants, which are normally used to meet peaks in demand.
- The power network is unburdened, and there is less pressure to invest in infrastructure upgrades. This helps stabilize the kilowatt-hour price, since power grid upgrades normally lead to tariff increases.
A common criticism against renewable technologies is that they have an environmental impact anyway.
This is true when you consider the manufacturing, transportation and installation process of equipment like wind turbines and solar panels.
Conclusion
However, there are no emissions and pollution once these systems are operating. On the other hand, conventional power plants fired by fossil fuels produce emissions during their entire service life.
