We have the Power to Choose our energy source, which depends upon what we produce from that energy source.
The main source of energy- The source we choose for producing energy is the most important aspect of using reliable energy. Non-renewable sources of energy are an inefficient source of energy which are expensive and producing facilities cover more land area and their by-product is completely non-degradable and is a major pollutant. That is why we need to choose a renewable source of energy like wind, geothermal, hydropower, and solar power. These sources are cost-efficient and are a type of one-time investment with no or very low expenditure.
How to know what is best for our product.
Even when we have decided to choose renewable energy sources. The road to a successful business or start-up does not end here as different aspects are depending on how much energy we will be requiring and that energy should be enough to power the machines and warehouses for the future even if there is any crisis beholding.
For example, a city needs a lot of power that is why the government uses sufficient sources like nuclear energy or the use of fuels but for manufacturing and trade purposes renewable sources like solar energy are sufficient to run the place without any pause in manufacture.
Cold storage needs a lot of energy which can be expensive for such needs one should go for a geothermal or hydropower source of energy as they don’t cost much and can run a whole warehouse-size refrigerator without any hesitation or stop in the process.
Economic production and costing of energy plants.
If there is any need for energy in the neighbourhood. You can earn by providing energy to those who need energy for their holdings and manufacturing variants. You can have a power plant which needs space from miles to few meters. Even a small plot is enough to produce energy when you go with hydropower which only requires a water source and less crew to handle supervision and administration.
For a huge investment holder’s plans can be much bigger and sources can be even larger to supply power. One can set up a power plant that requires more space, huge machinery, and quite a several manpower. Production of Nuclear energy from man-made atom sources are large powerhouses of producing energy which cost a lot but produces a lot of power too. Imagine a number that holds 10 zeros ahead of a digit, this many investments are required to build such huge power plants. But returns hold many zeros ahead than required investment had and are a source economy of a lifetime.
As the power to choose energy these are stats and aspects which will help you choose power source are mentioned below:
Low-cost energy sources:-
- combustion turbine energy (760$/kW)
- Fuel-powered (980$/kW)
- Gas produced energy (1100$/kW)
- Solar energy (1200$/kW)
Running and maintenance cost-efficient sources:-
- Solar energy
- Nuclear plants
- Hydropower plants
- Fuel-powered energy
Sources are linked most conveniently to understand more about choosing the right power source according to your needs.