What is the cheapest form of renewable energy?

Renewable energy

Green energy or renewable energy is characterized by being clean, inexhaustible and economical. The main objective is to protect the planet by achieving the minimum impact generated in the subtraction of energy.

Previously, renewable energy sources were considered as just another competitive option, but now 1 kWh of electricity is close to 0.003 dollars, surpassing the cheapest price of electricity achieved so far. It is therefore the cheapest energy available on the market.

There are many advantages of renewable energy, but as you can see the economic and environmental factors are the most striking. If you want to know more about this energy, make the necessary consultations with one of our energy advisors who will explain everything in detail. Its main advantages are:

Because wind energy is cheap

This is good news not only for the planet, but it also lays the foundation for a more affordable and accessible energy for everyone. That is why, at Gana Energía, we have been committed to offering the cheapest renewable energy since our inception.

Before analyzing what is the cheapest energy to produce, let’s define what is the energy mix of a country. This term refers to the contribution of the different energy sources to national production. To meet the energy demand, several resources are used: renewable energies, gas, coal, nuclear…

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As you may have guessed, each of the energy production processes has a cost. Burning tons of coal and transporting the energy to its destination is not the same as obtaining energy directly from a solar panel on the roof of your house. So what is the most economical source of energy? The answer is clear: renewables.

With this evidence that renewables are the cheapest source of energy, the European Bank for Reconstruction and Development (EBRD) has called for investment to be directed towards renewables. There is no doubt that renewables are more affordable.

Is wind energy expensive or cheap?

3.2. Renewable energies: technology, economics, evolution and integration into the Electric SystemEnergy is classified as renewable and non-renewable according to its capacity for renewal. A “renewable resource” is defined as one that does not run out with its use, since it returns to its original state after use or regenerates at a rate greater than or equal to the rate at which it is diminished by its use. According to this definition, it is true that some renewable resources may cease to be renewable if their rate of utilization is so high that their total renewal is prevented; however, some of these renewable resources can be classified as perpetual, since their depletion is not possible no matter how intensively they are used[86]. Normally, the use of a renewable resource or energy has the intrinsic characteristic of producing a much lower impact on the environment compared to the use or transformation of non-renewable energy.[87] The use of a renewable resource or energy has the intrinsic characteristic of producing a much lower impact on the environment compared to the use or transformation of non-renewable energy.

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Renewable resources or energy. Characterization and technologies.  For illustrative purposes, some of the renewable resources currently used for the production of renewable energy are: water, biomass, solar radiation, wind. In this way (see Technologies and costs of electricity generation):

What is the cheapest energy

Although at the level of private consumption, self-consumption is already at the threshold of profitability, what the world is really asking is: When will renewable energies be cheaper and more efficient than non-renewable energies?

This point is key to achieving greater penetration of this type of energy, which in turn is crucial for reducing carbon emissions, and right now, except in specific cases, it is not renewable energies that dominate the market.

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However, in other countries this percentage is much lower. In the United States, the percentage of renewables is around 10%, including 50% from biomass (wood, waste and biofuels), 25% from hydroelectric power and only the remaining 25% from solar energy (0.4% of the total), geothermal (0.2%) and wind (1.8%).

This is because the cost of solar energy is still higher than other energy sources, such as oil, coal, natural gas or nuclear energy, which share the “pie” in markets as large as the USA (35%, 28%, 18% and 8% of the total). (35%, 28%, 18% and 8% respectively).