Compared to other sources of energy, solar and wind power have lower operating and maintenance costs, and they are the most affordable forms of energy.
FREMONT, CA: Although solar and wind are becoming increasingly popular sources of renewable energy, detractors often point out their limitations, such as intermittency and efficiency. Despite the drop in storage costs and ever-increasing efficiency of both of these options, many people are unaware of the true reason solar and wind are so popular. While they offer emission-free energy when installed, they also offer several advantages over conventional energy like thermal and even comparable 'renewable' options like nuclear and hydro.
The following secrets about solar and wind power that everyone should know are as follows:
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The cost overruns should not ruin the project: Solar and Wind power projects rarely, if ever, experience cost overruns, unlike hydro, nuclear, or thermal power. Often, energy projects suffer from cost overruns that result in huge losses to the exchequer. Hydro, nuclear, or thermal power projects may experience cost overruns due to the complex nature of the projects, unpredictable factors, and regulatory compliance.
The Standing Committee on Energy in India reported that 12 out of 13 hydro projects and 30 out of 34 thermal projects were delayed in execution, resulting in huge monetary and time losses. The delay of 12 hydro projects resulted in an increasing time overrun of over 100 years and also a cost overrun of Rs 31,530 crore.
Delays in thermal projects led to a cumulative time overrun of 148 years and a cost overrun of Rs 41,100 crore. With solar and wind projects, this isn't the case.
The ability to be resilient and reliable: In addition, solar and wind energy projects are more resilient and reliable than hydro, nuclear, or thermal power projects. One or even ten percent of a large solar or wind farm does not shut down the entire farm, unlike other options. In 2019, the Rewa Solar Power Project experienced a partial component failure due to the onslaught of monsoon and severe weather. Despite the event affecting the power supply due to partial component failure, the remaining panels continued to produce energy as the power generation at Rewa Ultra Mega Solar Limited (RUMS) decreased from 250 MW to 92.5 MW. This showed the project's resilience to partial component failures.
An equipment failure or infrastructure failure can cause a complete shutdown of a hydroelectric, nuclear, or thermal power plant, disrupting the supply of energy.
Environmentally friendly: It is well known that solar and wind energy projects have a significant environmental advantage over thermal power plants, which are typically powered by fossil fuels such as coal and natural gas and emit large amounts of greenhouse gases, like carbon dioxide, into the atmosphere, which contributes to climate change.