Alternative Methods of Electricity

What are the alternative methods of a electricity?

Before starting to explain this question, I would like to explain what is alternative methods of electricity. The first one is Solar Energy; Generating electricity through solar energy is gaining widespread popularity. Many residential and commercial property owners are getting solar panels installed so as to produce their own electricity. There are many benefits of solar energy. First of all, it does not produce any harmful pollutants that could damage the environment or the ozone layer. Second is Wind energy that is turned into electricity through turbines and wind mills. They are highly productive for coastal areas as the pressure of the wind is high. The supply of wind is inexhaustible and the mills may not look that nice, but they are affordable and can be built on any plain region. The electricity produced through wind energy is safer than any other form of electricity generation. It is also very cheap. This makes it ideal for areas like farmlands, coastal areas and wherever the wind level is strong. The last one is Hydro energy. Electricity is also generated from dams and water turbines. This method is cheap, renewable and absolutely clean. Hydro energy can be excessively useful in areas where there is a flowing supply of water. There are no dangerous by-products of water energy and if the water flow is continuous it can be used endlessly. The production cost is relatively cheap and that is what makes it a great alternative to fossil fuels.

Electricity markets require energy prices for balancing, spot and short-term forward transactions. In the core framework of bid-based-security-constrained-economic dispatch, location energy prices that are consistent with market equilibrium appear as the location system marginal costs associated with the economic dispatch solution. These prices are charged to loads and paid to suppliers. The prices support the equilibrium solution in the sense that at these prices...