According to a recent German study conducted by the Fraunhofer Institute for Solar Energy Systems, by 2025 solar energy will be the cheapest source of power for numerous regions of the world.
The study concluded that:
- By 2025 the cost of power production in Central and Southern Europe will decline to between 4 and 6 cents per kilowatt hour and by 2050 as low as 2 to 4 cents.
- Solar power will play a role close to the one wind plays when it comes to energy consumption and distribution.
A recent deal in Dubai, United Arab Emirates, highlights the move the world is already making toward energy efficiency with a long-term power purchase contract signed for 5 cents per kilowatt hour. There are also similar projects happening in Brazil and Uruguay.
In comparison, electricity from coal and gas plants costs between 5 and 10 cents per kilowatt hour.
Read through the following three reasons why you should make an energy-efficient change in your home today:
- According to Class 5 Energy, plugged in, but not in use appliances, electronics and other household items use close to 75 percent of electricity each month. Simply unplugging electronics like laptops or coffee pots that aren't in use could save you money on your next bill
- If every home in the U.S. switched one light bulb to an Energy Star bulb, it could prevent 9 billion pounds of greenhouse gas emissions per year.
- A faucet that leaks 60 drops per minute will waste almost 165 gallons of water in a month.