Saturday, January 8, 2017
Good news for oil and gas rich Alberta. Having abundant, inexpensive and environmentally friendly energy will make any economy, future-proof, resilient and will be the foundation for well being of society for a long time.
While it is expensive at first, renewable energy generates electricity that has no cost of fuel, and with time will become the least expensive energy available. Even today, in jurisdictions with significant renewable energy, electricity cost dips close to zero at various times of the day when the sun is shining and/or wind is blowing, just look at Texas. The reality is that power over-generation is a curse when you have to pay for fuel and create emissions and air pollution. On the other hand, over-generation from renewables is a blessing to the economy as the cost of energy goes to zero. While dropping energy cost is bad news for traditional energy providers and distributors, make no mistake, it is very good news for the whole economy.