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Renewable Energy: The Best Resource for Saving Money when Electricity Cost goes Up

By Tara Manick

“Energy Check! Happy T&TEC!” What do I mean by that? Why may T&TEC be pleased if we all saved on energy costs in our homes, businesses and even industries? And what do we mean by an Energy Check?

Well, first of all, T&TEC has proposed a rate increase. But T&TEC may be happy if they do not have to spend more money for more power generation capacity to meet the demands of a growing population, especially if citizens manage their energy consumption, undertake electricity saving methods and embrace ‘Renewable Energy Power Systems.”

In this first in a series of articles, I will treat with the latter System and look at the impact it could have on T&T. In subsequent articles, I would deal with ways of keeping our Energy in Check!

Renewable Energy is any form of energy that is not depleted when used, such as Solar and Wind. They produce cleaner energy than fossil fuels resulting in significantly less emission of greenhouse gasses, less air, land and water pollution and less damage to our ecosystem, thereby creating a heathier environment for all to live.

The current power generation environment provides an ideal opportunity to embrace Renewable Energy Power Generation for Energy Self Sufficiency. With the timely introduction of renewable energy, this could mitigate the cost impact of a utility rate increase by T&EC as well as help with the current natural gas shortage.

Renewable Energy can be used for the diversification of our economy and for the creation of jobs. It is labour intensive, thus providing more jobs than power generation using fossil fuels. The rate increase will provide an opportunity to fast track the growth of this industry, from its embryonic / introduction stage. Noteworthy, the success of this industry will be heavily influenced by the Government’s role in the creation and implementation of an appropriate supportive framework.

Renewable Energy, along with the higher utility rate, will create a supporting industry in energy conservation and energy efficiency. This would positively impact the behavioural change in the people away from energy wastefulness.

Renewable energy can increase the wealth of our country by maximizing the profitability in our natural gas by selling it, thereby increasing national revenue and foreign exchange. In can also increase the wealth of our citizens, since less monies will be paid to the utility and it can be a source of extra income by selling power to the grid and renting of roof space.

Interestingly, Renewable Energy, can increase our National Security by providing diversity of power for our country, for businesses and for the people, thereby eliminating the possibility of 100% blackout and the economic impact of blackouts.

The Renewable Energy Electrification Programme by the Government is already having a positive impact on the quality of lives by reducing the unnecessary hardship and social gap of our people.

In the next article, we will look at behavioral changes that can be made to save on energy while being a better global citizen.

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