Money makes the world go round. We all know this whether we like to believe it or not.
Because of this, we must understand the cost of the two most used renewable energy sources currently on the market: solar and wind power.
These two are the most popular forms of renewable energy because they are the most developed worldwide.
Since people are so money-minded, let’s delve into which of the two renewable energy sources are more cost-effective.
Is wind energy more expensive than solar?
If you were to look exclusively at whether solar power or wind power costs more, solar power would come out on top, costing a lot less than wind power.
It costs less because the installation of the panels is far cheaper than the installation of wind turbines and their machinery.
So, does that mean solar power is better to buy between the two because it costs less? Absolutely not.
There are plenty of variables to consider, such as whether they will be used on a smaller scale for houses or on a larger scale for utility purposes.
If you are debating which renewable resource to use for small-scale power usage, solar power would be the most sensible choice.
On the other hand, if you are looking to install a renewable power source for utility reasons, it would be much more beneficial for you to install wind turbines.
Another variable to consider is location.
If you install in a predominantly sunny area, it will make much more sense to install solar panels rather than wind turbines.
That is common sense.
The same goes for windy places.
If you are building the resource on top of a windy location, you will want to invest in wind turbines rather than solar panels.
Is solar and wind power cost-effective?
Renewable resources follow unique learning curves that are boosting the industry forward rapidly.
The more renewable energy technology is implemented into our environment, the more the industry grows.
The more the industry grows, the cheaper renewable technologies will become.
Think about it, power bills seem to get higher and higher each month.
That will not be the case if renewable energies replace their competition because solar and wind power are free! Investing in the technology upfront is the high price of it all.
With government subsidies and decreasing solar and wind energy machinery costs, these two renewable resources become even more cost-effective for the long-term trajectory.
The comparison between wind power and solar power is complex, given various variables that influence the decision as to which is more expensive to watch individualized projects.
Some of the benefits of wind turbines compared to solar panels are that wind turbines release less carbon dioxide into the atmosphere, consume less energy, and produce a higher amount of energy overall.
Yes, a wind turbine is much more expensive than solar panels, but they are much more efficient too.
It all comes down to what you need to power and where.