Future of Renewable Energy Relies on Controlling Costs

Sep 16, 2015 12:33:00 PM by NuEnergen

energy-2.jpgHardly a day passes in which we don't hear or participate in a conversation about energy. We're concerned about its costs, the damages being inflicted upon the environment, what we're going to do when we run out of nonrenewable resources, natural security issues, and so much more. Regardless of the nature of the discussion, though, there always remains one constant underlying theme: the world is in dire need of safe, clean, affordable energy. For most, this means pushing towards renewable energy sources like solar and wind.

Encouraging the world to switch from the energy sources that it has relied on for centuries is no easy feat -- especially when it means that money will need to be spent. A growing number of people are expressing their opinion that government financial assistance and subsidies should be responsible for enabling the world to find the path to a stable and affordable renewable energy industry and self-sufficiency. And while this is a government priority, it has to be done in the most cost-effective manner possible -- not only for the hardworking families and business owners of this country, but for the government itself.

Controlling Government Costs

There can be no argument that the assistance of the government is absolutely critical to bringing solar and other renewable energy sources to the masses. Government agencies across the globe have taken measures to establish programs that work with both solar companies and citizens as a means of lowering initial costs and promoting long-term, sustainable energy for all. What we're seeing in many cases, though, is that the overall costs of these programs is actually exceeding expectations. This is largely due to the fact that major solar companies have been so responsive to these initiatives, working to educate home and business owners, pushing towards the change, and accommodating their customer's needs.

While it's excellent that nations throughout the world have enjoyed such success in deploying renewable energy programs, there also has to be balance when it comes to spending. In order to be able to sustain the available incentive programs, leaders need to take it upon themselves to regularly review the level of subsidies and expenses, and to make the appropriate cuts where necessary. Without doing so, the progression towards a more renewable energy-friendly world could be drastically halted.

Controlling Consumer Costs

Before you get up in arms about the fact that governments may need to scale back on subsidies and incentive programs, there are a few things that you should be aware of. First, one of the primary reasons why government agencies actually have the ability to scale back their own spending is that the initial costs of renewable energy technologies are falling -- and falling drastically. This makes the upfront costs much more affordable than what they were as little as a year ago. This means that even a lower subsidy would still have a substantial impact.

It's important, also, to realize that these cutbacks are necessary if the solar and other renewable energy industries are to be successful for the long run. Without scaling back, the government would soon deplete its resources available to fund projects like these. Without the continuous growth of renewable energy usage, the ongoing costs would continue to rise. This would significantly increase the amount that a consumer or business owner could expect to spend on their monthly energy allowances.

We can all agree that renewable energy needs to be a priority, but we have to be smart about it. Taking measures to ensure that initiatives like this are handled in a way that is responsible and cost-efficient is critical to long-term success. Learn more about what's going on in the renewable energy industry by checking back on our blog and reaching out to the experts at NuEnergen.