Cost of Renewable Energy Technologies

The greatest obstacle for the replacement of conventional energy with renewable sources is the high price of installations.

The price of renewable energy technology varies depending on the type of the energy source. The most expensive options from renewable energies which are available to households are solar, photovoltaic and geothermal systems, while installation of any biomass burning stove is less expensive.

Use of biomass for heating results in additional seasonal costs for the purchase of biomass fuels which also needs storage space and requires time and effort to store and later for refueling. On the other hand solar, photovoltaic and geothermal systems don't have these requirement to produce heat or electricity, while all solar, photovoltaic and geothermal energy is incessant and free.

The costs of all energies eventually more or less ballance out however it's important to mention that the average solar, photovoltaic and geothermal energy systems require an additional energy source for heat in harsh winters. Geothermal heat pumps require electricity to drive the pumps. An ideal solution is to have enough solar cells or photovoltaic arrays to generate the electricity necessary, but the cost of such systems is too high for them to be realistic options.