In terms of impact economically and environmentally, Solar power is a much more favorable resource than the use of petroleum (Richardson). North America is focused on converting from a “carbon-intensive economy” to an “energy based economy” due to global climate changes (William). As depicted in a North American primary energy consumption graph, almost 40% of primary energy consumed is oil, and barely any renewable sources are utilized (Canes 10). Fossil Fuels create greenhouse gas emissions, cause eroding in the ground, and pollute water supply with the process of drilling (Richardson). Peak economies spend $452 billion every year to financially support nonrenewable resources (Richardson).
Money needed to financially support fossil fuels will continue to increase with the population growing as rapidly as it does each year, which is why the change to a much safer and economically reasonable resource is a more efficient alternative. The price per kWh or Kilowatt hour of fossil fuels is $0.05 and solar energy is $0.029 (Richardson). The American Wind Energy Association claims that adequate numbers of wind plants (which can be built in 4 years) could eradicate the gas scarcity (William).
Consumers can save plenty on their utilities by using wind plants. As stated by the EIA projects, the law (American Recovery and Reinvestment Act) will minimize energy bills by $13 billion in 2020 and $21 billion in 2030 (Environment America). High oil prices will motivate the development of high-cost regions and the move to renewable energy sources that will delay oils depletion (Alsahlawi). Because the cost of fossil fuels overrides the costs of solar energy, energy companies are in the process of creating solar PV projects that can provide energy at half the cost of nonrenewables (Richardson). According to the union of concerned scientists, transitioning to cleaner energy will save consumers and businesses $465 billion each year by 2030, and may lead to an increase in jobs according to a study conducted by the University of Tennessee and increase net income by $460 million (Environment America; William). Green energy sources have acquired “tremendous attention” in the past few years and acceptance as governments and organizations have embraced their “environmental responsibilities”(William). Solar is a technology and not a fuel, its costs continue to fall every year as technology improves and more research is conducted (Richardson).