For consumers, driving an EV costs less than half as much per mile as driving a gasoline-powered car

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If the U.S. invests in the clean energy programs outlined in the Build Back Better Bill, which passed in 2021, the average household could save $500 a year on energy costs. 3. Renewable energy makes good business sense. Environmentalists have long argued for the adoption of renewable energy to replace traditional energy resources. Today, governments and corporations are singing the same tune because it makes good business sense.


Companies make money producing wind turbines a list of jordan cell phone numbers nd solar panels. For example, General Electric is the global leader in onshore wind energy equipment, a sector that has seen enormous growth. Global offshore wind investment hit an all-time high of $76.7 billion in 2023, according to BloombergNEF. Other industries are thriving in this climate. For example, the construction industry benefits from building retrofitting while the automobile industry benefits from building mass transit and EVs. It’s less expensive for utility companies to build renewable power systems than to operate existing fossil fuel plants.


Investing in renewable energy can also have a massive impact on a government’s expenses. For example, Germany imports much of its oil and gas from Russia. As per estimations, the country could use only renewable energy by 2050, helping it save billions of dollars. 4. Renewable energy facilitates universal energy access. Fossil fuel dependence distorts the energy market, resulting in a significant number of people without power access. The International Energy Association estimates that 775 million people worldwide had no access to electricity in 2022.