- We can’t keep relying on fossil fuels
Fossil fuels are a finite resource. With many growing economies, as well as the already existing large economies still burning huge amounts of fossil fuels, solar power provides a key source of sustainable energy as a replacement. The sun won’t end any time soon.
- Sustainability’s the key
Not just “renewable energy”, which can mean things like firewood or water, whose stock levels need to be maintained responsibly, but “sustainable energy”. Once a solar collector is set up, it simply catches the sun’s rays – you don’t need to worry that it won’t be around tomorrow.
- The sun won’t die soon, and it constantly gives a lot of energy
The sun will begin to die after another 2 billion years so it’s practically speaking never ending energy. The energy from the sun’s rays hitting the earth is 35,000 times greater than what use on any given day.
- Very little solar power is used compared to fossil fuels
In the US alone, renewable energy (of which solar is a major part) accounts for a paltry 1% of the total energy used. Compare this to hydropower (6%), nuclear (7%), natural gas (23%), coal (24%) and oil (39%). There’s a lot of room in the market.
- The good news is that it’s changing
Government subsidies, economic incentives and increased efficiency are leading more and more people to promote and take up renewable energy sources. It’s very clear that it can make financial sense for even individuals to start investing in solar power.
- Will I really be able to justify investing in solar power?
Absolutely! Given enough time you will recover almost 100% of your investment. Remember, the fuel (sun) is absolutely free and guaranteed to keep burning for billions of years. If energy prices soar, you’re insulated from a financial shock.
- Don’t just invest in stocks, invest in your house
Your property will appreciate (increase in value) significantly if you decide to install a solar photovoltaic system. As more people begin to realize how important it is to have a clean, renewable energy source at home, your house value will only increase.
- The government is happy to lend a hand
There is a large variety of government and industry subsidies and programs incentivising the use of solar power in domestic properties. There are tax breaks, utility discounts, and affordable loans. Take advantage of these to shore up your bottom line.
- The more people invest in solar technologies and applications, the cheaper it gets
Although solar power used to be financially unattractive compared to other energy options, economies of scale are closing the gap as investors are realizing that the benefits outweigh the costs when approached in a sensible way.
- Spread your bets
All this being said, the best way to minimize the risk of losing your investment is by having a diverse portfolio of investments. So invest in solar energy companies by all means, but also consider investing in your own property to really benefit from this versatile energy source!