Invest in Solar Power – Cheap Energy Solution

Energy is essential for the economic and social growth of modern society, but its demand surpasses supply. The need for electricity worldwide is expected to grow by 54% by 2025, which is beyond the capacity of current energy infrastructures. To bridge this gap, renewable energy sources like Solar Energy have emerged as a cheap, readily accessible, and environmentally friendly means of energy generation. In this article, we’ll explore why investing in Solar Energy is a wise move and how to invest in it.

Why Solar Energy?

Solar Power is the energy produced from the sun’s light and heat, which is renewable and abundant. This energy source is less dependent on environmental variables than other renewable energy sources like wind energy. Below are some reasons why Solar Power is rapidly gaining popularity and why investing in it is worthwhile:

1. Solar Power is Environmentally Friendly: It doesn’t produce pollutants like greenhouse gases or carbon dioxide. It is a clean and renewable source of energy that doesn’t rely on burning fossil fuels responsible for emitting harmful waste products into the atmosphere.
2. Low Operating Costs: The operating costs of solar power are relatively low when compared to conventional power sources. Once installed, there are no additional fuel costs or maintenance costs. Furthermore, the maintenance cost of Solar Panels is very low, requiring minimal cleaning and occasional minor repairs. Additionally, the cost of solar panels has been falling dramatically over the years, making it increasingly accessible to homeowners.
3. Long-Term Economic Benefits: You can start seeing energy savings in your electricity bill almost immediately, once installed and generating power. These savings can add up to significant amounts over the lifetime of the system, which can be as long as 25 years. Additionally, Solar Panels increase your home’s value by up to 20% when you decide to sell it.
4. Solar Energy is Reliable: The energy from the Sun is consistent and predictable, and it generates power even when there is no direct sunlight. Unlike other renewable sources like wind and water, solar energy can be implemented anywhere on the globe where there is reliable sunlight.
5. Governments and Industries Are Supporting Solar Power: In many countries, households and businesses that switch to Solar Power benefit from tax rebates, grants, and other incentives. Furthermore, solar power is supported by the industry, with many businesses leading the charge to maintain a sustainable environment.

Methods to Invest in Solar Energy

Investing in Solar Power is no longer limited to the installation of solar panels on your home or business premises. There are different ways to invest in Solar Energy, and here are some of the most prevalent methods:

1. Residential Solar Panels: Residential Solar Panels are becoming increasingly accessible for homeowners. This means your home can be powered by the sun’s energy, reducing your carbon footprint and saving you money in the long term. Homeowners can sell the excess energy they generate, thereby making a return on investment.
2. Mutual Funds Investing in Green Energy Stocks: Mutual Funds that invest in renewable energy companies are available in the stock market. Investing in green energy stocks is a low-risk investment and an excellent way to access the entire range of companies committed to renewable energy.
3. Solar Bonds: A Solar Bond involves loaning money to a solar developer or Solar Panel manufacturer. This loan is typically for a few years with a fixed interest rate. Solar Bonds offer low-risk investments in Solar Energy, with most of these bonds seeing very high ratings.
4. Renewable Energy ETF: The Renewable Energy ETF invests in a range of green energy companies, offering a diversified investment portfolio for investors.
5. Solar Farm Investments: Investing in Solar Farms is ideal for individuals who want to invest in Solar Energy but are unable to install Solar Panels on their homes. The returns on Solar Farms investments depend on the size of the investment, but they typically range from 5% to 8%.

Solar Energy Myths – Debunked

Despite the significant business and environmental benefits that come with Solar Energy, myths around it exist that may discourage people from investing in it. Here are some of the top myths, debunked:

1. Solar Energy is Expensive: The cost of Solar Panels has been dropping significantly over the years and in some areas, it’s already cheaper than conventional power. Furthermore, long-term savings made on electricity bills outweigh the initial cost of installation.
2. Solar Energy is Not Reliable: The sun is a stable source of energy that is here to stay for billions of years to come. Solar Panels are designed to generate power even on cloudy days, rainy days, and during winters.
3. Solar Energy has High Maintenance Costs: Once installed, Solar Panels do not require much maintenance when it comes to upkeep. Typically, the only maintenance required is the occasional cleaning to keep the panels in top shape.
4. Solar Panels are Ugly and Unappealing: Solar Panels have come a long way since the first Solar Panels. Nowadays, Solar Panels can be incorporated into the roof design and aesthetics, thus enhancing homes’ curb appeal.

Conclusion

Solar Power is environmentally friendly, affordable, reliable, and versatile. It has lower operable costs and can be installed almost anywhere in the world. Multiple investment models are available for investing in Solar Energy, making it accessible to anyone. Despite the many myths surrounding investment in Solar Energy, it is a viable and profitable investment. Investing in Solar Energy is a smart move both financially and environmentally.