Renewable energy is growing fast in many places, especially solar power.
I have been wondering, what really drives this growth?
Sometimes i think government incentives are the reason.
Times it seems like rising electricity prices make people look for alternatives.
I have also heard that falling costs and better technology are reasons for growing adoption of renewable energy.
For those who follow this area closely what do you think makes the difference, in renewable energy adoption?
What usually is the turning point that gets people or communities to switch to renewable energy?
What do you think actually drives energy adoption the fastest?
byu/captiveisland inenergy
Posted by captiveisland
6 Comments
High gas and oil prices.
$$
it started with government policies to curb pollution and/or energy independence from petro-states. Now it’s about national security and energy independence for many nations. These factors and investments have driven the technology to be the lowest cost solution. In petro-states it’s all about lowest cost.
There has to be cash or credit to cover the large upfront costs.
Speed. You can setup a solar farm in 18-24 months. If you want a new gas plant new turbinr orders stretch into the 2030s.
Source: i sell power to data centers.
Relative price. When it becomes the same price or cheaper than the alternatives, through markets or with government subsidies.