3 Reasons to Use Natural Gas Over Other Fossil Fuels

After a two-year high, natural gas prices have decreased to the lowest level since December of 2014.
"U.S. natural gas inventories remain historically elevated for this time of year, and will look to challenge the latest rise in prices going forward," said Robbie Fraser, a commodity analyst at Schneider Electric.

According to The Wall Street Journal, futures for January natural gas delivery decreased 3.2 cents (0.9%) to $3.603 per million British thermal units (BTU) on the New York Mercantile Exchange. At one point, trading was as high as $3.748 a million BTUs. "In the event that weather moderates and we get another period of normal to low-normal demand, then it’s going to quickly come back into focus," said Zane Curry, director of markets and research at Mobius Risk Group. Despite the market fluctuation, the benefits of natural gas and other renewable forms of energy are consistently positive.
What makes natural gas so attractive?

Affordability
Natural gas still costs much less than other forms of energy, and it often compares favorable to renewable energy sources. In fact, energy savings are a big part of the industry's recent success. That's why working with a reputable energy company can potentially save money in the long run, especially if they utilize alternative sources of fuel. Talk to an electricity provider and renewable energy company today if you want to learn more about alternative plans for power. Already, solar energy users save 75 million barrels of oil each year.

Better for the World
Another added benefit of natural gas is that it's so much more environmentally friendly than other fossil fuels. Although natural gas isn't as clean as wind power and other forms of renewable energy, it is the cleanest fossil fuel energy source. Natural gas also has fewer impurities, is much less complex chemically, and its combustion results in less pollution compared to other fossil fuels.

Produced in America
Wholly 97% of the domestically used natural gas was produced in North America. So along with the other added benefits of natural gas, the use of U.S.-based energy will reduce overall dependency on foreign oil sources. This can result in a better economy because more jobs are created due to high demand for natural gas. Roughly 35,000 jobs are created for every 1% of increased production.

Alternative Energy - Now And In The Future

Alternative energy sources such as solar and wind have become more a part of our lives as advancing technology has made them increasingly viable. Energy industry deregulation has enabled these renewable energy companies to enter the market and compete with traditional power suppliers.

But how does it affect us as individuals and consumers? As alternative electricity for your business or home becomes price-competitive, you'll begin to consider the advantages of switching over. In the meantime, there are a number of interim ways to cut your energy costs. One that has become increasingly common is the smart meter. Around 50 million smart meters of them have been installed on homes across the United States. That represents about 43% of total residences.

About 19% of your home electricity bill is the cost of air conditioning. Simply installing a programmable thermostat can reduce that expense by approximately 10% every year. Another major factor affecting how much you pay is your water heater, which accounts for 14 to 18% of your total utility bill. Try turning off its breaker when you're asleep or at work. If that results in significant savings, consider buying a water heater timer.

Usage varies by household, of course, but the average American's monthly electricity usage is 903 kilowatt hours. That translates to a bill of about $107. Before considering alternative energy sources, you'll need to know how much they will save you on an ongoing basis and how long it will take to amortize their cost of installation and/or equipment.

Over the next few years, we can expect to see increasing application of alternative energy sources as our society attempts to wean itself from the use of fossil fuels and coal to generate power. But even now, we should all endeavor to do what we can to reduce unnecessary use of electricity.

It just makes good sense, in terms of both our wallets and our environment.