How Has the Clean Energy Surge Saved Money for Consumers?
The current American government may be trying to put the fossil fuel genie back in the bottle, but too much clean energy technology is here to stay. This is attributed to a global social consciousness that is forging a wave of change for the future of the planet and your wallet.
The clean energy surge has saved money for consumers on a variety of platforms, and now is the time to take advantage of clean energy options to gain control of your natural inheritance and wallet.
Fighting the Good Fight with Hydro/Wind Savings
Sustainable living is widely recognized by game changers. Last year the Massachusetts Clean Energy Partnership defied critics that said hydropower would be costlier than natural gas. According to analysis conducted for Governor Charlie Baker’s hydropower proposal, the Boston State House News Service reported that:
“Energy customers in the state would see a net benefit of $171 million a year from long-term contracts for hydropower or a combination of hydro and land-based wind from northern New England or Canada.”
John Dalton, President of the Governor’s Consulting Group, Power Advisory, commented:
“Our analysis shows that displacing natural gas-fired electricity generation with hydropower or a combination of hydro and wind results in substantial annual savings to Massachusetts energy consumers as well as dramatic reductions in greenhouse gas emissions,”
Department of Energy Weighs In
A September 2016, the U.S. Department of Energy report details how the clean energy surge has saved money for consumers since 2008. Manufacturing costs of wind, LED’s and electric vehicles “has fallen by 41% to reductions as high as 94%” which means less expensive consumer installment prices.
In the report, some of the savings passed on to consumers include:
- Solar – “In 20 states and in 42 of America’s 50 largest cities, financing a residential solar energy system currently costs less than purchasing. electricity from a customer’s local utility, commonly termed ‘grid parity.””
- Wind – “Power purchase agreements for wind have fallen from rates of up to 7 cents/kilowatt-hour (kWh) in 2009 to an average of 2 cents/kWh today in certain regions of the country.”
- LED bulbs – Using LED bulbs has saved $630 billion in avoided energy costs between 2015-2035.
Direct and Peripheral Savings
Even if you do not subscribe to any clean energy retrofit, you could be benefitting from your neighbor’s. Boston University’s BU Today Science & Tech report (7/25/16) reported how ‘Solar Power Saves Everyone Money:’
The article tells the story of a suburban couple who wanted to contribute to reducing global warming, and decided to install a solar panel system on their home.
Using federal and state tax credit incentives to help build the solar unit, the couple’s average monthly electricity bill on their 3,500 square foot home went from $200 per month to zero. In addition, their local utility company allows for buy backs (not all do). This meant that, over time, small credits adding up to about $100 per year were received by the couple as a result of selling leftover energy back to their electric company. It is a clean energy win-win, but, wait – there’s more.
A study by Boston University, Professor Robert Kaufman, discovered that a combination of suburban solar panels reduced “electricity prices for all of the approximately three million consumers in the state, even those with no solar panels.” When conventional consumers use excessive energy for air conditioning in the summer, utility companies purchase the cheapest energy sources available first. This, of course, is the extra clean energy from buyback solar owners, which then passes on the savings to consumers.
There are numerous other energy-saving technologies either already implemented in other countries, or in production, as we speak. Due to the urgency of climate change and its effect on the planet, these technologies are deemed necessary and economical, in the long run.
Along with global mandate and action, judicial checks and balances work together; clean energy will continue to surge, empowering our planet and wallet by reducing energy costs and our carbon footprint. JOIN US today and become a partner in our sustainable community. Learn more about clean energy and healthy living. We invite you to subscribe to our website to stay updated on the latest healthy living news.