The Truth Behind Hydrualic Fracturing

Solar and wind technologies promise energy without any of the adverse environmental effects or dependence on other countries that comes with heavy utilization of coal and natural gas. In fact, the U.S. has enough wind resources to potentially produce 10 times the country’s existing energy needs.** Yet, these “green” technologies have thus far contributed minimally to the overall U.S. energy consumption. Upon closer inspection, the relatively high cost of wind turbines and solar panels can be attributed to a lack of development of their associated technologies. Construction of large wind farms and utility-scale solar technology is recent. In addition, wind and solar sources produce power intermittently, which complicates large-scale utilization of this energy.***

However, new developments and improvements in technology have alleviated costs significantly, making solar and wind technologies competitive with those of coal and gas from a monetary standpoint. As of the end of 2014, the cost of utility-scale solar energy is as low as 5.6 cents per kilowatt-hour, with wind as low as 1.4 cents. By contrast, natural gas comes as low as 6.1 cents, while coal is at 6.6 cents.*** The price of solar panels has dropped by 30% since 2010.** Given that solar panels and wind turbines are relatively easy to install, an infrastructure of panels and turbines can be established fairly quickly. As for the intermittency problem, there have been developments that promise improved storage of energy and controls in order to have a consistent source of energy.**** A sustainable source of energy would diversify the energy portfolio, thus providing more energy security. In terms of creating jobs, the solar industry employs more than 100,000 Americans and grew by 69% in 2010, making it one of the fastest growing sectors in the U.S..** The economy has also been growing, considering that the U.S. was a net exporter of solar products in 2010 by $2 billion.**

Renewable technologies have not been developed enough for the U.S. to depend on them heavily. Fracking can be slowly reduced as a means of transitioning towards an era of predominantly clean energy. In the meantime, the national government can provide financial incentives to encourage the use of alternative energy. Whether it be through subsidies, start up funding, or tax breaks, the federal government can spark initial growth of these technologies. In order to keep furthering the growth of renewable energy, clear short-term and long-term quotas can be established and incentivized.