Interchange Blog
I’m a subject matter expert: Part 4
Here is part 4 of my 7 part series:
Are there viable alternatives to coal and oil?
Er, define viable. There are currently no viable alternatives to coal and oil without government subsidies. However, over time this is likely to change. If oil production begins to slow as predicted by some geologists its price will rise. If the United States pursues climate change regulation, such as the Leiberman-Warner cap-and-trade bill currently being debated in Congress, then the price of coal-generated electricity will rise. With further research and development subsidies and technology-forcing mandates, such as the requirement in the 2007 Energy Bill that 10% or so of electricity must be generated by wind and solar, the cost of renewable energy is likely to fall in the future. As the price of coal and oil rises and the production cost, and therefore price, of renewable energy rises, renewable energy sources will become more economically competitive alternatives to coal and oil.