The entire economy of a region depends largely on the uninterrupted supply of power. There must be a balance between supply and demand of electricity as it is not feasible to store power at larger scale. Therefore, the production must be in accordance with the demand.
Demand for electricity is increasingly growing as global population has reached an unprecedented level. Privately owned power companies, however, play an important role in eliminating the shortage of electricity. They are, in some countries, capable of generating electricity at mega level. Multiple sources are used to produce electricity. 5 of them are:
1. Fossil fuel
Fossil fuels (Gas, oil, coal etc) produce a large part of the electricity worldwide. Oil is a very diverse product that can be used for several purposes. Natural gas is commonly used for heating purposes. However, the use of natural gas in vehicles is on the rise. The process of making fossil fuel useable involves many environmental issues. Most importantly, fossil fuels are getting scarce day by day. Rental power plants use oil and gas or diesel to generate electricity. It is an expensive way of generating electricity as compared to hydro or solar energy.
Water is used largely as a primary source of power. Plenty of water is restored in reservoirs and then released through dams in order to run turbines which produce electricity. A single dam, such as Three Gorges Dam which can produce more than 22 thousand megawatt electricity, can supply electricity to a large number of population. Hydropower is widely believed to be an environment-friendly procedure of producing inexpensive electricity.
3. Nuclear energy
Increasing demand for electricity cannot be fulfilled using conventional means. Nuclear power plants have gained considerable popularity as an incredible mean of producing electricity. Power reactors in nuclear plants use heat to generate steam which runs steam turbines. More than 31 countries have been producing electricity through nuclear power plants.
4. Renewable resources
Renewable energy sources include wind, wave, solar and geothermal. They are natural resources which are available in abundance. Solar and wind energy has become an important share of globally produced electricity. Wind power is largely used in Europe and the United States. There is hardly any environment risk in producing electricity through naturally replenished resources.
5. Biomass energy
Biomass energy is produced by using organic materials such as animal waste and plants. Carbon dioxide is produced in great quantity in the process. Biomass energy is used as fuel in many industrial and domestic applications.
It has become difficult to meet the growing power needs. Natural resources should be used wisely in order to eliminate the power deficit and to save the environment.
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