graph of electricity costs and system costs of different energy resources in the United States
Based on the graph, compare and contrast the total cost of renewable and nonrenewable energy sources. Explain what might account for the differences in cost. Do additional research as necessary.
Unfortunately, as an AI text-based model, I cannot directly access graphs or do real-time research. However, I can provide you with a general understanding of the comparison and contrast between the total costs of renewable and nonrenewable energy sources in the United States, and suggest possible factors that may account for the differences in cost.
In terms of the total costs, renewable energy sources generally have higher upfront installation costs but lower operational costs compared to nonrenewable energy sources. Here are some reasons that may contribute to these cost differences:
1. Fuel source: Renewable energy sources, such as solar and wind, rely on abundant and freely available resources like sunlight and wind, which do not require ongoing operational expenses. Nonrenewable energy sources, on the other hand, often require ongoing expenses for acquiring and transporting fuels like coal, natural gas, or oil.
2. Technology maturity: Renewable energy technologies have been rapidly evolving and improving over the past decades, leading to decreased manufacturing and installation costs. Conversely, nonrenewable energy technologies like fossil fuel power plants have been established for many years and may require more maintenance and refurbishment.
3. Economies of scale: Renewable energy technologies, particularly in the solar and wind sectors, have benefited from economies of scale as production increases. As more solar panels or wind turbines are produced, the cost per unit decreases. Nonrenewable energy technologies may not experience similar economies of scale, especially if the resources they rely on are limited.
4. External costs: Nonrenewable energy sources, especially fossil fuels, often bear additional costs that are not directly reflected in their market prices. These can include health and environmental costs associated with air pollution, greenhouse gas emissions, and negative impacts on public health. Renewable energy sources generally have fewer external costs.
It's important to note that the specific costs and cost factors can vary depending on the type of renewable or nonrenewable energy source, regional factors, technological advancements, and government policies. For accurate and up-to-date information, I recommend referring to reliable energy reports, government agencies, and reputable research institutions that conduct studies on these topics.