A solar-powered home reduces carbon emissions by 3–4 tons annually, equivalent to planting 100 trees every year).
Why You Should Start Investing in Solar
Contributed by | Solar Power Authority
If you are looking for a new way to start saving on your bills or to earn money through investing, solar power should be at the top of your list. Invest in solar stocks and watch your investment portfolio flourish, or install solar panels on your own home or business to save on your energy bills.
Think that solar can’t compete with fossil fuels in the long run? Take a closer look at the benefits of solar power to discover why you should invest in solar energy as both a stock and a personal energy source.
Investing in the Solar Industry
Even with the recent slump in oil prices, solar stocks are not losing value. You might assume that investors would be buying up tons of oil at the low price and ignoring solar stocks, but this hasn’t been the case. In fact, solar stock prices are due for a rise.
Here’s why: With ongoing growth in solar technology, the production costs continue to decrease. Buying solar power is only getting more affordable, and because tax incentives for solar power save the average American about 30 percent of the total cost for the product and installation, more and more people are turning to solar power. According to solar stock experts, the solar industry will be seeing huge growth in the market in the next few years.
Solar Equals More Jobs
The employment rate in the renewable energy sector continues to grow each year, creating more jobs for communities all across America. In 2013, the Bureau of Labor Statistics in the U.S. found that 3.4 million people work in the renewable energy sector. This is a significant increase from the 2011 study on the “green economy” that reported 2.7 million workers in the field of renewable energy. The 2011 study noted that there are more employment opportunities in renewable energy than in fossil fuels (made up of the oil, gas, and coal sectors). The growth of the solar industry means a more stable U.S. economy and new jobs for our citizens.
Solar Works Nationwide
Installing solar panels on the roof of your home can completely eliminate or drastically cut your energy bills. Many assume that solar power is only an ideal option in the sunniest regions, but solar panels are still effective in almost every U.S. state. For example, Germany has more solar-powered homes than any other country in the world, but they get about as much sunlight as Alaska. No matter where you live in the United States, solar power panels are a viable option for reducing your monthly energy bill.
Lower Overall Costs
If you have energy bills that run over $200 a month, you should consider installing a solar panel system. These renewable energy sources typically have a 25–30 year life cycle and cost about $25,000–$35,000 on average. Tax breaks cut the cost of the panels about 30 percent on average, making the initial investment start as low as $17,500. Add in the annual savings on your energy bill, and you could pay for your solar energy system in a few short years.
Solar Increases Property Value
A study done by the U.S. Department of Energy found that solar panels typically add about $15,000 to the value of your home. Even if you decide to move a few years after getting solar panels installed on your home, you will see the return on investment when you sell. By investing through solar energy panels, you increase the overall property value of your home.
Environmental Perks to Solar
Investing in solar energy is good for you — and good for the environment. A solar-powered home reduces carbon emissions by 3–4 tons annually, equivalent to planting 100 trees every year). By using solar power and reducing your carbon footprint, you are contributing to a cleaner, healthier environment.
You may not consider yourself to be a “green,” environmentally conscious person, but the financial benefits of solar energy should change your mind. Invest in solar energy stocks and install these eco-friendly panels on your home to reap the benefits of the enormous growth in the renewable energy sector.
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