If we use more renewable energy can we make energy costs cheaper?



  1. 0 Votes

    Ultimately, yes, in a variety of different ways. Switching to biodiesel or hydrogen-powered cars will cut down on the power of OPEC, the oil cartel which effectively has a monopoly on and controls petroleum sales across the world. Slashing their monopoly by offering alternative fuels would introduce freer market practices into consumer and industrial fuel markets and ultimately lower fuel costs for everyone.

    Also, switching to renewable sources of general energy such as solar, wind, and turbine power means limitless sources of energy. Without the economic scarcity of oil or natural gas, alternative energy companies will have no groups to instate further monopolies or to jack up prices in any other way.

    Plus, a lot of smaller, home-level solar energy installations can be cheaply done at an individual level (reference cited link), sharply cutting existing home energy costs in this transitional period from old to new energy.

  2. 0 Votes

    Yes.  The more people that use renewable energy sources, the cheaper the energy will eventually become.  This is how markets work.  As new energies become more refined, precise, and accessible, the more people will purchase them, and in-turn companies can charge less because they will have a larger client base.  Think in terms of simple markets, farmer markets perhaps.  If you have a client base of 10 customers who purchase your apples, you can only sell a finite amount of apples and will have to charge to maximum that you can reasonably charge to turn a profit, whereas if you have 100 customers you can charge less per apple because you are selling more.

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