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Question : The term "grid parity" refers to:

Option 1: Equal distribution of energy resources
   

Option 2: The cost of renewable energy matching conventional energy
  

Option 3: A power outage in the electricity grid

    

Option 4: An efficient energy transmission system


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: The cost of renewable energy matching conventional energy


Solution : The correct answer is (B) The cost of renewable energy matching conventional energy

The term "grid parity" refers to the point at which the cost of generating electricity from renewable energy sources, such as solar or wind power, becomes equal to or lower than the cost of generating electricity from conventional sources like fossil fuels. It signifies a significant milestone in the energy transition, as it means renewable energy can compete with traditional forms of energy without relying on subsidies or incentives. Grid parity is an important goal for promoting the widespread adoption of renewable energy and achieving a more sustainable and decarbonized energy system.

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