Making Solar Energy more Economical Date: The field of energy economics has focused on energy commodities and energy sources and includes regulatory and market structures; motivating factors to firms and consumers to supply, transport, convert and use energy resources and distributional and environmental consequences…
The demand for energy is dependent on properties of conversion means, technologies, and costs. Human energy makes use of resources that can be depleted in particular fossil fuels derived from the preferences. Market forces and cartels may guide a transition back to sources that are renewable. Energy as such has its effects and they come in terms of very heavy environmental costs. At the end of it they are incorporated into the energy cost and prices leading to overuse of energy and motivate policy inventions. Focusing on human utilization of the energy commodities and energy resources and the aftermath of that utilization is the main discussion of many experts. From an economist’s perspective the economic terminology, “energy” is inclusive of all energy resources and energy resources that have significant amounts of physical energy and as such can perform work. Partly, the study focuses on forces that lead economic agents to pursue alternatives in terms of other economically efficient provision and use of energy resources and commodities. The role of alternative energy market and regulatory rules on the activities of producing energy is a point of consideration for these studies. There is a kind of energy that can be replenished in a short period of time called renewable energy, which comes from sources that frequently being recycled and usually less polluting than energy from fossil fuels. There are five main categories of renewable energy: wind and solar, biomass, geothermal, hydropower among which the solar energy, provided by heat and sunlight, has been utilized least yet. However, solar energy holds a number of benefits for societies and it has already proven to have positive effects on residential homes and industrial applications. For many years, the economic choice of energy to use has been solar energy in many industries. In this areas power is required at remote locations without government help, as the vast majority of systems used need few kilowatts of power. Also, solar energy is frequently used on transportation signaling. For example, offshore navigation buoys, lighthouses, and increasingly, road traffic warning signals are using solar power due to its power saving efficiency. Solar power’s great benefit here is that it is highly reliable and requires little maintenance so it is ideal to use in places that are hard to access. Following are some details of the major advantages of solar energy. Primarily, as mentioned above, solar power is particularly useful in remote areas where it is lack of regular electricity supply. Moreover, a lot of greenhouse gases such as nitrogen oxide, carbon dioxide, mercury or sulphur dioxide that come from many traditional fuels have been kept from releasing into the atmosphere, and it greatly contributes to the decrease of harmful green house gas emissions. Accordingly, solar energy is extremely environmentally friendly. In addition, solar energy systems are free of charge substantially on conservation and will last for a relatively long period. Once installed, there are no recurring costs. They do not require you to add any fuel. More solar panels can be set up in the future with your energy requirements increase. Energy security is the guarantee of a reliable and stable supply of energy at reasonable economic prices. Relying on main energy sources such as oil and ...
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