Sep 14, 2021
Taking a look at the availability, usage and price of electricity around the globe
It doesn’t matter where you are from, one of the major things that connect all of us is electricity. It is the commodity that all of us pay for regularly. In 2017 the usage was approximately 22.3 trillion kilowatt-hours – more than three times the amount recorded in 1980.
However, there is a great disparity in how electricity is produced, its usage, and pricing in different parts of the world. Take Iceland, this nation generates its electricity from 100% renewable energy sources while China’s electricity comes almost entirely from fossil fuels. Zimbabweans spend only about 1 cent per kilowatt-hour of electricity, while German households almost 34 cents. There are multiple factors that determine the cost of electricity: the availability of natural resources, the country’s energy mix, the government policies and taxes, the local weather and the overall supply and demand curve.
In recent times, natural disasters have played a role in determining the cost. It has left a huge impact on the power sector by causing huge damage to transmission lines.The extra cost has to be levied to the customer. According to the EIA, the global residential usage has been projected to increase by nearly 50% by 2050. 37% of the World’s energy is produced from renewable sources.
The US has mostly been producing electricity from coal and fossil fuels, in 2017 it was overtaken by natural gas, which now accounts for 34% of the country’s generation. However, the share of renewable energy is slowly, but invariably going up. In Spite of this growth 13% of the world still does not have access to basic electricity.
Regardless of where you live in or the price you pay for electricity, energy conservation is key to a sustainable future! Enposs supports the world with its efforts to transition to renewable energies to power our homes.
With our product FORCE you can save upto 10% on your electricity usage. Let us not take this valuable resource for granted and save every bit we can.