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Energy

Why Investing In Green Energy Is Cheaper In The Long Run

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One of the problems with various organizations fighting for environmental change over the years has been the question of classism. For a long time, choosing to do what was best for the planet was something people and countries of privilege could do. While wealthy celebrities and wealthy nations blasted everyone else for destroying the ecosystem, the underprivileged were simply trying to survive.

It is a matter that is still relevant today, especially when we look at how the nations leading the way in green energy confront developing nations. However, we are finally getting to a point at which investing in green energy is no longer something only Leonardo d’Caprio can do.

Here is why investing in green energy is now cheaper, in the long run, for consumers.

Systemic change

A few years back, pursuing environmental ideals felt very lonely. There were few people actively trying to turn the tide on climate change, and even fewer institutions. Eschewing the use of single-use plastics could feel like more of an exercise in idealism rather than something that made a difference.

However, in recent years, governments around the world have gotten on board. Yes, there have been setbacks, like when Donald Trump pulled the US out of the Paris Climate Agreement. Furthermore, certain world leaders are taking their countries backwards – Brazil’s Jair Bolsonaro is the most obvious example.

But for the most part, political institutions are doing better. It is not nearly enough, but it puts pressure on big corporations, which in turn make it easier for consumers to choose environmentally-friendly options.

This does not automatically make green energy cheap, but it has paved the way for solutions which benefit the consumer in the long run.

Affordable infrastructure

Renewable energy sources should, in theory, be more affordable for consumers. They are renewable, after all. Furthermore, solar and wind power are, technically, freely available. If you are able to harness and process these resources, your energy is entirely free.

Of course, the ability to harness these resources is where the trouble comes in. Converting your home to use solar energy, for example, requires you to buy and install solar panels, along with the technology to convert solar energy into electricity. You also need to have alternative sources in place for when there is no solar energy available.

This is why solar energy has been expensive. The infrastructure is specialized. But with more companies offering solar energy solutions, investing in the infrastructure is no longer prohibitively expensive. It will still cost you a significant outlay, but it will not take long before it essentially pays for itself.

Aside from maintenance as well as the coal power you do use when necessary, your electricity is free. Over time, you save much more than you spend.

Insurance matters

It is important to consider how green energy impacts expenses such as insurance. Because you are spending money on your home’s renewable energy capabilities, you need to cover your home with better insurance. However, your insurance provider may be able to give you benefits based on your green energy usage. Take a look at Lemonade to see what they offer for homeowners insurance. Ask a rep about how your monthly premium works taking into consideration factors such as electrical surges and faults. 

Progressive benefits

It is also important to note the difference between the trajectory of clean energy sources and coal. Over the past few years, the cost of implementing green energy solutions has plummeted. It looks set to continue this downward movement, giving you all the more reason to invest in green energy.

Coal, on the contrary, has stayed fairly stable in price. It was once much cheaper than renewable energy, but while the price of coal has not increased, it has remained static for the past decade. Renewable energy will soon be the far cheaper option, which is one of its many benefits.

Converting to clean energy sources is now more affordable than ever. Environmentalism is no longer a pursuit of the rich and famous, but something we can all get involved with in a very real, sustainable, and effective way.

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