After decades since it was introduced, solar energy has finally become viable. The two obstacles to its wide use, high-cost and low energy output, have been significantly reduced (if not eliminated) thanks to new investments and better technology.
So much so, in fact, that a CNN report, citing research by Bloomberg Energy Finance, said that solar energy is already “killing” coal. The numbers look formidable: for example, research forecasts that its use will grow to 169 percent by 2040 while coal energy will decline by 51 percent.
Widespread solar energy use is made possible even more as the cost of generated electricity keeps going down. In 2009, electricity price from solar energy dropped by 75 percent and is projected to plunge a further 66 percent by 2040.
In some countries, including the U.S., it has also become as cheap as coal. While coal, oil, and natural gas aren’t going away anytime soon, research shows that the U.S. would be sourcing 38 percent of its energy from solar resources by 2040.
Investors are also pouring in more capital into renewable energy. At the present rate, investments in the renewable energy sector would reach $7.4 trillion. Of that amount, $3 trillion would go to solar energy.
For homeowners, being solar-powered has several benefits beyond just saving on electricity cost. According to Energy Sage, solar panels are paid off in less than ten years, with a 20 percent ROI. Furthermore, it protects homeowners from rising energy costs. Solar panels also increase the property value of one’s home. The solar industry is also creating jobs for communities.
For investors, solar energy stocks might just be a good pick for the medium and long-term. While solar energy stock prices have dipped, Investopedia thinks this might be an opportunity to buy. There’s good reason to think that prices will go up again, considering that solar resources use is “skyrocketing” and the industry now employs some 270,000 people.
Solar energy is definitely in our future, and it would be wise to prepare for it by getting informed now and planning accordingly.
LODE Markets: the digital “Amazon” of Gold and Silver
The on-demand economy has made it easier than ever to acquire products and services with the click of a button....
Will the price of Bitcoin enter the bear market territory?
As paradoxical as it may sound after this week, in the weekly view, the price of Bitcoin is still in...
Bank of Africa is expanding its network of partners
Bank of Africa-BMCE Group multiplies its cooperation projects with leading economic actors. Through these partnerships, the group is strengthening its...
a2censo raised $700 million for Aoxlab, the largest campaign it has ever run
The company a2censo has recently raised $700 million for Axolab. The resources obtained in the collaborative ecosystem will allow them...
Pharma Mar’s Sylentis will conduct a trial in more than 30 hospitals in the U.S.
Sylentis is preparing for a new trial. The study has been approved by the FDA in 30 days and will...
Cannabis7 days ago
Legalization trend drives cannabis ETFs to significantly grow
Best of Born2Invest5 days ago
Silver Supply Shortage: What Investors Need to Know
Crowdfunding6 days ago
Before investing in crowdfunding, be aware of the structure surrounding the platforms
Crowdfunding4 days ago
Mazzanti manufacturer launches a STO after three equity crowdfunding campaigns