Electricity Tariffs And Alternative Energy

Innovation in renewable energy technology has been slow to develop over the last several decades, but the push to transition to a mixture of traditional and alternative energy sources has accelerated research and development in this sector.

Cutting edge technologies are in development across a range of renewable energy sectors. For instance, wind farms which can predict wind speeds inside the farm to control individual farm turbines are being tested to maximize efficiency of wind farms. In the solar power field, a prototype satellite with reflectors which concentrate solar energy onto solar panels on the satellite and then convert the energy to electromagnetic radiation to be beamed to earth for transformation into electricity is scheduled to be sent into space as soon as 2022. Alternative fuel sources are also in various stages of R&D.