In recent years, an increasing number of individuals and organizations have taken an interest in renewable (or “green”) energy. What is renewable energy? Wikipedia defines renewable energy as “energy that comes from natural resources such as sunlight, wind, rain, tides, waves and geothermal heat.” In Texas, a common source of renewable energy is wind. Solar power is another common green energy source.
The advantages of using renewable energy sources for both residential and commercial electricity are two-fold: first, renewable energy sources tend to generate considerably less pollution. Second, the energy source—the sun or wind, for example—is free. The wind will blow and the sun will shine whether we use them for power generation or not.
However, there is a downside, as well. One of the most talked about pitfalls of renewable energy is that it tends to be more expensive in the long run. While wind, itself, is free, there is a high cost associated with converting wind to commercial electricity and delivering it to large, urban areas where it’s most needed. Solar power comes with a price tag, too, as solar panels simply aren’t cheap.
However, according to an article posted yesterday by the Environmental Defense Fund (EDF), there’s some good news emerging for fans of green energy: a recent report from ERCOT (the Electric Reliability Council of Texas) forecasts that “wind and solar are more competitive than natural gas over the next 20 years.” That’s right. Renewable energy sources might translate to lower prices in the coming years.
As the article from the EDF explains,
…when real-world assumptions are used for our various sources of power, wind and solar are highly competitive with natural gas. In turn, that competition from renewables results in lower power prices and lower water use for Texas.
What’s good for the planet might just be good for your company’s budget, too.
Of course, all of this is speculative at this point. The commercial electricity market is a futures market. While the data from ERCOT has been well researched, it is not definitive. Only time will tell what energy sources end up being the most economical over the next two decades.
Still, this is hopeful news if you and your organization are committed to being green. You may not know it, but there are a variety of renewable energy options available to you for your business electricity. When you compare electricity rates and electricity providers, those options affect everything from your organization’s environmental impact to the price you pay.
Here at Live Energy, we’ve spent the last 10 plus years working with businesses of all shapes and sizes in deregulated markets across the country. Our goal when helping our clients select a business electricity provider is to finding the contract, term, rate and arrangement that will be the best match for each one individually. That means you won’t find a cookie-cutter approach when talking to one of our commercial electricity experts. Instead, we want to learn about your organization. If operating as a green business is important to you, we’ll do everything we can to find you the most competitive possible rate for renewable business electricity.
The energy market is always changing. Let us help you navigate those changes without hassle. Call Live Energy today at 888-341-9155 to find out how we can help you.