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
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.