In Singapore, Dubai, London, Rotterdam
Sonnens Solar and Wind Power
Advances in renewable energy have historically followed crises. During the 1970s, oil embargos caused the cost of oil to quadruple, which led to efforts to reduce American dependence on fossil fuels and explore alternative sources of power such as solar or wind energy. After the global financial crisis of 2008-09, several governments linked part of their economic stimulus to investment in clean energy.
The COVID-19 pandemic caused an unprecedented energy shock, and as a result, investment in renewable energy hit its highest levels since the Great Recession in 2021.
History of solar vs wind power
In the wake of recent crises in Europe, Western economies have been reminded of the crucial need for energy independence, resulting in an increased demand for renewable energy sources. At present, two of the most popular renewable energy sources in the US and EU are solar and wind power. The question that arises is whether either of these sources will emerge as a leader in 2022.
In 1973, oil shocks caused gasoline and oil prices to increase rapidly, leading to concerns about the United States and EU energy future. In response, U.S. leaders became increasingly interested in finding alternative domestic energy sources to reduce dependence on foreign oil. Additionally, mounting pressure from environmentalists led to tangible US federal, state, and EU each country support for renewable energy in the 1970s.
To encourage the development of renewable energy, Congress passed the 1978 Energy Tax Act which provided tax credits for homes with solar panels and funded the development of large wind turbines. While solar energy was not cost-effective enough to gain traction at the time, EU wind turbines made significant progress in progressive states.
In the USA, Over the next few decades, wind energy's share of U.S. electricity generation increased from less than 1% in 1990 to about 8.4% in 2020. Similarly, the share of solar energy in total U.S. utility-scale electricity generation grew from 0.1% in 1990 to around 2.5% in 2020.
Benefits of solar panels and
wind turbines for the home
Although supply chains have been squeezed and inflation has caused some bumps in the road, the cost of renewable energy technologies is currently very low.
In fact, their cost has fallen to a level lower than that of traditional sources such as coal and natural gas. As a result of technological advances and low costs, solar and wind installations continue to grow exponentially, with residential clean energy sources in high demand.
However, while solar has proved its value in the residential market, wind installations are typically used on a commercial or industrial scale.