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Economic facts about electricity
The selection of electricity production modes and their economic viability varies in accordance with demand and region. The economics vary considerably around the world, resulting in widespread selling prices, e.g. the price in Venezuela is 3 cents per kWh while in Denmark it is 40 cents per kWh. Hydroelectric plants, nuclear power plants, thermal power plants and renewable sources have their own pros and cons, and selection is based upon the local power requirement and the fluctuations in demand. All power grids have varying loads on them but the daily minimum is the base load, supplied by plants which run continuously. Nuclear, coal, oil and gas plants can supply base load.
Thermal energy is economical in areas of high industrial density, as the high demand cannot be met by renewable sources. The effect of localized pollution is also minimized as industries are usually located away from residential areas. These plants can also withstand variation in load and consumption by adding more units or temporarily decreasing the production of some units. Nuclear power plants can produce a huge amount of power from a single unit. However, recent disasters in Japan have raised concerns over the safety of nuclear power, and the capital cost of nuclear plants is very high. Hydroelectric power plants are located in areas where the potential energy from falling water can be harnessed for moving turbines and the generation of power. It is not an economically viable source of production where the load varies too much during the annual production cycle and the ability to store the flow of water is limited.
Due to advancements in technology, and with mass production, renewable sources other than hydroelectricity (solar power, wind energy, tidal power, etc.) experienced decreases in cost of production, and the energy is now in many cases cost-comparative with fossil fuels. Many governments around the world provide subsidies to offset the higher cost of any new power production, and to make the installation of renewable energy systems economically feasible. However, their use is frequently limited by their intermittent nature. If natural gas prices are below $3 per million British thermal units, generating electricity from natural gas is cheaper than generating power by burning coal
Learning opportunities for electricians
While the electrician is usually associated with you in middle age, it is said that young people are not interested in the profession. However, there is a problem in obtaining such a profession, because people finishing high school prospect of continuing education in technical profile electrician is quite frightening. It is in fact one of the most difficult for young people profile, but still someone determined and having interest in electric definitely can handle. Opportunities to gain this profession also appear for higher studies, except that in this case it is also difficult field of study.
Electricity generation is the process of generating electric power from other sources of primary energy. The fundamental principles of electricity generation were discovered during the 1820s and early 1830s by the British scientist Michael Faraday. This basic method is still used today: electricity is generated by the movement of a loop of wire, or disc of copper between the poles of a magnet.1 For electric utilities, it is the first process in the delivery of electricity to consumers. The other processes, electricity transmission, distribution, and electrical power storage and recovery using pumped-storage methods are normally carried out by the electric power industry. Electricity is most often generated at a power station by electromechanical generators, primarily driven by heat engines fueled by chemical combustion or nuclear fission but also by other means such as the kinetic energy of flowing water and wind. Other energy sources include solar photovoltaics and geothermal power and electrochemical batteries.