BloombergNEF recently released its Levelized Cost of Electricity (LCOE) analysis, comparing the cost of different power generating and energy storage technologies. One of the key findings in the report is that solar and wind are now the cheapest sources of energy generation in all major economies. Despite being a more cost effective and zero carbon generation solution, many companies are still not investing into green energy.
However, BNEF have predicted that by 2050, Europe will be leading the way in renewable energy, with 87% of our electricity coming from renewable sources. This is assisted by the UK’s plan to close its remaining coal-fired power stations by 2025, something we are big advocates for here at Ecusol.
In the past, fossil-fuel supporters have argued that renewable energy will always need a backup from natural gas power plants when there’s no wind or sun to generate power. However, the price of batteries has dropped dramatically since then, and they are now widely available to store and distribute electricity to meet shifts in demand. This has resulted in there being no need for fossil fuels and solar and wind becoming the cheapest sources of energy generation.
Utility scale Lithium-ion/ Lead carbon batteries are now larger, cheaper and more reliable, meaning you can store energy from the sun throughout the day, and use it all night. The ability to sell surplus solar or wind energy back to the national grid makes them the most cost-effective solutions for any business and long-term investments with high returns.
The United Nations released a report last month stating that we only have 12 years left to fix things before climate catastrophe (read more in our article here). Renewable energy is by far the most effective solution in fighting climate change and something every company needs to incorporate. The UK has even been said to have the best climate in the world to generate renewable energy.
At Ecusol, we have a range of zero carbon energy generation products including wind turbines and PV solar, personalised to each business, small or large. Both products can be connected to our Battery Energy Storage Systems to secure energy supply and you can then sell excess power to earn additional income.
In addition, our PV solar and wind turbines can be installed with no initial capital outlay and financed with low interest tax efficient loans or power purchase agreements, meaning you won’t have to pay a penny.
For a FREE energy consultation or to ask about our range of products contact our team on 0191-228-6596 or email [email protected]. Renewables are the cheapest source of energy generation and significantly reduce a company’s carbon footprint, making them the most effective solution by far for any business.