The time has come when man realized the urgency of the need to conserve fossil fuels and to arrest climate change. These are expected to be able to help economies as the cost of renewable energy goes down in time.
The cost of renewable energy has always been thought to significantly be cheaper through the years as investments are recouped. There could be no better truth. This is, however, by all indications not going to happen even after recouping the investment. The confusion has nothing to do with initial exorbitant costs which is expected, but rather the issue arising from the variable figures which are being reported by suppliers and agencies.
Putting up a ‘green system’ is a better move rather than waste time on worrying about conflicting figures of cost of renewable energy.
1. The average cost to generate wind power is about $40,000 for a 10KW system. This provides savings of about 50 to 90 percent and at the same time requires less maintenance. Additional $400 to $1,600 is needed to cover costs of fees, plans and permits. The facility can be cost effective if geography and topography if the resource is consistently on its optimum. It takes about 15 years to be able to pay up the initial investment in these kinds of facilities.
2. A 7.76 kilowatt solar power system using a photovoltaic system roughly costs between $35,000 to $52,000. Additional cost comes with maintenance for 25 to 30 years which is the lifespan of a typical PV system. The cost-effectiveness will depend on sunlight, usage and capacity of the system. The expense is recovered in more or less 14 years.
3. If there are rivers or tributaries, it is important not to disrupt the natural systems when establishing the microhydroelectric power. It costs less at a few thousand dollars to about $10,000 for large systems than other renewable energy systems. Constructing a shed to protect the water turbine from the weathers, pipelines and permits are additional costs which may be incurred.
4. In tapping geothermal heat and depending on the depth and position of the system, drilling can cost between $10,000 to $30,000, a 3-ton geothermal heat pumps can cost about $7,500. It will take about 10 years to recoup this paid up investment. he facility may last for a long time, 25 to 50 years, and is almost maintenance-free.
This financial cost of renewable energy means more than just an expense. As a matter of fact, the true worth of a quality environment and human life and health cannot be pegged with a price. Such are priceless, its beyond what money can buy.
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