Introduction to Renewable Energy Myths
With the energy transition in full swing and the renewables sector changing constantly, it can be easy to come across misinformation and misconceptions surrounding the capabilities of renewable technologies. False information leads to scepticism of how well renewable energy systems work, thus leading to a slower uptake. By debunking these myths, consumers are well-informed and more likely to adopt renewable energy solutions rather than sticking to fossil fuel sources of energy.
Now more than ever it is crucial for businesses to adopt onsite renewables. These technologies can generate large cost savings over time by reducing the reliance on the national grid for electricity. With the cost of renewable technologies continuing to decline, the business case for implementing them continues to grow too. Onsite renewables give businesses the opportunity to gain energy independence, protecting them from price volatility in the energy market (i.e. from energy shortages and/or supply issues). With net zero continually being bound into law, businesses must be compliant with new regulations and legislation. Investing in renewable technologies allows organisations to stay compliant and mitigate risks associated with carbon-intensive operations.
Myth #1: Renewable Energy is Unreliable:
Some may argue that solar panels are not a viable option in locations where there are frequent cloudy conditions. Whilst cloud cover can affect the efficiency of solar panels, they can still provide a reliable source of cleanly generated energy.
Direct sunlight is not required to produce solar energy; diffused sunlight provides photons that solar panels use to convert to electricity, albeit at a lower intensity than direct sunlight. The efficiency of the solar panels themselves continues to improve over time, meaning that modern panels are better able to utilise diffused sunlight on cloudy days. By adding battery storage alongside solar panels, the user can ensure a continuous electricity supply during cloudy periods due to the storage of excess solar energy during sunnier periods.
Utilising battery storage alongside a solar PV system allows the user to benefit from load shifting and peak shaving management techniques, whilst decreasing the reliance on the grid. Peak shaving involves reducing overall power consumption during peak grid demand to prevent spikes in consumption and therefore avoiding higher energy costs. Load shifting involves temporarily reducing electricity demand and transferring this to periods of lower tariff prices and/or grid demand. By utilising battery storage with solar PV, this allows the user to benefit from both peak shaving and load shifting techniques, whilst also helping to improve grid reliability for other energy users (see image below).
Myth #2: Renewable Energy is Expensive
Whilst there may have been a time where renewable energy was much more expensive than fossil fuels, times have changed dramatically with more organisations and individuals opting for renewable energy systems. Globally, solar PV experienced the sharpest decline in cost over the last decade (2010-2019) with an 82% decrease. Other renewable technologies such as onshore wind and offshore wind also dropped in price by 40% and 29% respectively. With this continuing declining trend, renewable energy systems are becoming increasingly cost competitive when compared to fossil fuels.
The levelised cost of energy (LCOE) accounts for the building and operation of a power plant over its lifetime. Renewable energy technologies, especially solar and wind, tend to have a lower LCOE in comparison to natural gas, making them an economically attractive option.
An often overlooked factor is the external costs associated with fossil fuels. The impacts of fossil fuel usage stretch far and wide, including air and water pollution, public health impacts, and wildlife consequences. Though not directly linked to fossil fuel prices, these consequences lead to further economic implications. Investing in renewables is the only solution to eradicating these external and avoidable costs.
Many government incentives and subsidies are available to organisations and individuals in the UK. This helps to bridge the cost gap between renewables and fossil fuels, making installations much more financially feasible. To see a full list of government funding currently available, click here.
As the renewable energy industry continues to grow, economies of scale help to drive down the costs of manufacturing, installation, operation and maintenance of these technologies.
Myth #3: Renewable Energy Can’t Meet Our Energy Needs
In 2023, the UK had a record-breaking year for renewable energy generation; renewables accounted for 51% of electricity used, compared to gas at 32% and coal at 1%. The record for maximum wind generation in the UK was broken twice in 2023; 21.6GW on 10 January and 21.8GW on 21 December. The record for maximum solar generation was broken on 20 April 2023 at 10.971GW.
Renewable energy is an abundant resource and will never be exhausted. Resources such as solar, wind, geothermal and water far exceed the global energy demand every day. With innovative technological advancements happening all the time, this enhances the potential for renewable energy to meet a larger share of the global energy demand.
Intermittency concerns with renewable energy technologies can be addressed with a variety of storage solutions such as battery, thermal and hydropower storage. This surplus energy is stored during peak production periods and discharged during low generation periods.
Conclusion
To conclude, it is important to seek the correct information when considering the implementation of renewable technologies for your home or business.
It is easy to become overwhelmed by the monumental amount of information out there, which makes it difficult to know what to believe and where to begin. That’s where OnGen’s expertise comes in with our team of renewable energy experts cutting through the complexity of the renewable energy sector with its range of software tools; OnGen Expert, OnEfficiency and OnGen Marketplace.
Get in touch today to see how we can help build the best business case for installing onsite renewable energy solutions, saving you time and money, all whilst cutting carbon emissions to reach net zero goals.
