The time has changed when it was hard to generate energy out of the resources. The changes are in such manner that even the experts are facing problems to keep up to the new updates of the resources. As energy consumption is increasing on a daily basis, researchers are developing new ideas of using renewable resources to generate energy. The energy storages are getting cheaper day by day and the renewable energy sources are also getting cheaper. Things are way different as they were five years ago from today and there are going to be a lot of changes in the near future. At the 45th World’s Environment Day, the theme of the day was ‘Air Pollution’ which is one of the rising problems today as the effects of air pollution are causing climate change on a big level.
The emission of the greenhouse gasses is one of the reasons behind the climate change which also includes the burning of fossil fuels. Though the field of energy development is facing a big change. The price of coal is not the same anymore as the rates of coal are never been so high before. According to David Schlissel, director of resource planning analysis at the Institute for Energy Economics and Financial Analysis said, “The price of producing power at natural gas plants and with wind and solar has declined so dramatically.” Energy Economics and Financial Analysis is an energy research firm based in Cleveland.
If we talk about the coal shares then the resource, according to U.S. Energy Information Administration, the statistical agency of the U.S. Department of Energy, coal is facing a fall in the shares from 48% to 27% from 2008 to 2018 and in the coming future, the shares will fall by 22% by 2020. Bruce Nilles who is the managing director of the Rocky Mountain Institute said, “We’re retiring a coal plant every month. Coal will all be gone by 2030.” Renewable energy is taking over as it is cheaper than coal as it produces 35% of U.S. electricity.