In the current scenario more than 80% of our electricity is being generated from non-renewable resources and the remaining from renewable ones. Obviously, current market price of electricity is dominated by non-renewable energy resources. The major factor contributing to high electricity price is cost of non-renewable energy fuel which is very high as compared to renewable energy resources which is available freely. In this situation, businesses running on renewable energy resources are getting huge profits and the consumers are getting negligible benefit out of it.
As the share of electricity from renewable energy resources increase gradually, more businesses will compete with each other in this sector and the electricity prices can be expected to come down.
Many energy suppliers are under huge pressure from the consumers to bring energy prices down and this is possible only with the diversification in renewable power generation. However, this may also lead increase in renewable energy jobs.
No Comments