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You're probably familiar with the story of Hanukkah. With only enough oil to last a single night, the Jewish Temple's eternal flame miraculously burned for eight full days. Hanukkah is rooted in the kind of energy that lasts, much like renewable energy can provide limitless energy efficiency today.
Like the oil from the Hanukkah story, renewable energy is naturally-generated energy that comes from constantly-replenished processes. Unlike traditional energy sources, like coal or oil, it is not "used up."
Renewable energy comes from a range of sources. There are several types of renewable energy that currently meet commercial sustainability standards.
While the energy sources themselves may be free and in infinite supply, there is cost associated with collecting and producing that energy. However, renewable energy is rapidly becoming less expensive, and in some cases, it may even cost less than burning fossil fuels. By 2021, it is estimated that solar power - one of the more expensive renewable options currently available - will be competitive in cost with coal power around the world. By 2040, the cost of solar power is expected to plummet as much as 66 percent for solar and 71 percent for wind power.
By the end of 2016, approximately 24 percent of global electricity was produced from renewable sources - most notably hydropower from the ocean, though wind and solar energy also offered substantial contributions. That number continues to rise substantially. By the year 2050, it is estimated that at least 80 percent of the electricity in the US will be generated from renewable sources.
The key is balance. By using energy from several renewable sources, the U.S. can generate a larger percentage of its energy from renewable sources. In some cities, there is already a commitment to 100% renewable power - a goal that is set to transform power usage across the US.
While many advances toward renewable energy have been made, it takes time to shape these new energy uses and transform the way plants and other facilities do business. By helping make the switch to renewable energy, like installing solar panels at your business, you can make a significant impact in the overall use of energy and help those finite resources last longer.
Keep up with all of the energy trends and changes that were brought about in 2017. Download our full report now.
Posted: December 12, 2017