Electric and magnetic fields in time and frequency domain due to return stroke-lateral corona (RS-LC) system and re- cently discovered red sprites have been calculated. It has been found that the electric and magnetic fields due to return stroke and lateral corona system radiate in the very low frequency (VLF) region while due to sprites radiate in the ex- tremely low frequency (ELF) range. A comparison has been made between the radiations emitted due to RS-LC system and sprites in ELF (0 - 200 Hz) region. It has been found that the electric field i.e. radiation power generated due to sprites dominates in the ELF range and thus it is concluded that the red sprites as compared to the RS-LC system are the prominent source for the excitation of Schumann resonances in the earth-ionosphere waveguide.
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