Investing in solar energy can be somewhat controversial. Some see it as a risky financial move, but the truth is that it’s really a smart option, whether you have hundreds or thousands of dollars to invest. Of course, you always want to invest in industries and companies that are growing, and this is why investing in solar is such a good idea: it’s growing! Here are just a few things that make investing in solar energy a smart move.
Companies are surpassing expectations
2011 projections for the solar energy industry almost unanimously saw the industry expanding and growing, even during this tough economic year. Many solar companies, however, have surpassed expectations already, and are absolutely booming with growth. Companies like Worldwide Energy and Manufacturing USA are exceeding growth expectations for the rest of the industry, but any healthy company in the solar energy sector could be a good bet, as the entire sector has grown this year.
Solar energy technology is advancing rapidly
Due to recent major breakthroughs in solar energy development, the technology behind solar energy is rapidly advancing. This means that it’s going to grow more and more quickly, since most advances have made it more affordable, more accessible, or more efficient. Now is the time to invest in solar energy, before all these advances make it a commonplace theme in the world of American energy.
Solar energy is stable and cost effective
While costs of other types of energy, such as natural gas and oil, fluctuate, the cost of solar energy is stable once it gets going. It’s also cost-effective when it can work at peak energy generation. Again, technology is advancing, which is making solar energy even more stable and more cost effective. Getting in on solar energy companies now is a good idea, since the increase in cost effectiveness is going to make their products boom over the next few years.
Solar energy provides carbon credits rather than carbon costs
As the energy market becomes more carbon-regulated in order to preserve the environment, solar energy will produce carbon credits rather than carbon costs. This means that more businesses and individuals will be seeking ways to use solar energy – either by purchasing it through energy programs or by installing solar panels in their own businesses and homes.
The government is getting behind solar energy
Solar energy companies would probably advance all on their one right now due to the increased call for sustainable forms of energy at the consumer level. However, the government is getting on board to push solar energy along even more quickly. The US Department of Energy currently has an initiative called the SunShot Initiative going on, and its goal is to reduce the installed cost of solar energy by about 75% over the next several years! This energy program is giving grants to solar energy companies to further their research, which means they’ll be advancing more quickly than ever!
While solar energy is becoming a great option for companies who want to offset their carbon footprint, it’s also becoming more popular for individuals and homeowners looking to conserve energy and lower their own energy costs. Again, the booming popularity and efficiency of solar energy means that more people are going to be installing solar energy in their homes, which could mean big payoffs for solar energy investors.
Abby Henderson is a contributing writer at the free credit card applications website, CreditDonkey. While our cars are still powered by gasoline and not solar, you can still do something good for the environment while driving. Consider gas credit cards that let you earn cash back at the pump. Then use the cash back to purchase carbon offsets to compensate for the emissions — a great way to help the environment and your wallet.