Electricity has become a normal part of our lives, like a second nature.
As we get home from a day’s work, we expect our electricity powered lights to turn on at the flick of a switch, and our television to show us the latest news.
We never really think about our energy consumption until the bill comes due on its regular date.
Well, the next time you check your bill, you might get a surprise, enough to make you notice how much your bill cost. This is because experts are predicting very low energy prices in the coming years.
Wind is Cheapest Clean Energy
Researchers from the University of Texas Austin’s Energy Institute has recently mapped out energy use across the United States. The study has confirmed the increasing use of wind energy in most US states.
Data indicates the cost of wind energy has dramatically decreased from 2009 and is now 69 percent cheaper than before.
USA Today recently reported that purchase prices are now at $15 per megawatt hour (MWh) as compared to $18.91/MWh in 2017. Solar energy is also cheap at $22.30/MWh in 2018.
The continuing decline has been attributed to several factors, particularly:
- Local industries are now manufacturing wind turbines and its components which means less cost as it eliminates the cost of equipment importation.
- Wind turbine designs have been improved and is now able to work more efficiently in harnessing wind.
- Wind turbines are now able to generate more electricity because of its efficiency.
- Technological advancements have lowered the cost of operation and maintenance. The use of AI and drones, to name a few, have hugely lowered operation costs.
- The increasing competition among wind energy producers have helped in lowering the cost of this clean energy.
Businesses Choose Wind Energy
In parts of the US where wind energy is cheap, more and more businesses are going for wind energy because it is cheaper than regular electricity sources. Wind energy prices are also stable, and could even become cheaper in years to come, so businesses are able to plan ahead with regards to energy requirements and finances.
Apple is one among the big businesses in Iowa that is thankful for wind energy. It says people in Iowa have business foresight and had the guts to pursue the development of this type of clean energy.
Apple’s transition to the use of wind energy has made the company achieve its sustainability goals and is able to meet customer demands.
Aside from Apple, companies like Google, Facebook, Microsoft, AT&T, General Motors, and others have chosen to use wind energy. Said businesses signed up for long-term contracts with wind energy companies.
This resulted in a huge increase in the number of companies and industries that chose wind energy in 2018. Records indicate a 66 percent increase in the demand from 2015. And it’s still increasing. A 10 percent increase has already been recorded for the first half of 2019 compared to sales during the first half of 2018.