Since everyone is keen to invest their hard earned money into something that will earn them the maximum profit, all of us keep looking for various avenues and investment opportunities. If these opportunities are in the sustainable or renewable energy industry, the long-term returns are much more than what it looks like on paper. To know more read on.
In the last decade, the renewable source of energy – the solar energy is gaining a lot of attention from those who are concerned about the depleting resources of our fossil fuels. Naturally, a lot of effort and investment is going into research and development to harness this vast and freely available source of energy. The solar panels that were around a decade ago have also undergone a lot of development in the way they are manufactured and the components they use. They have become more energy efficient and maintenance free.
Let’s see why it is a good investment idea to invest in solar panels:
- For the environment – using solar panels to harness the Sun’s power and convert it to usable electricity is a good thing for the environment. Why? Because it does not burn up the coal and other fossil fuels like natural gas or petroleum fuel. This, in turn, causes fewer greenhouse gasses to be released into the atmosphere helping keep global warming in check.
- To save money now – when you switch to a roof-mounted solar panel system for supplying energy to your home or office, you are not using the power from your utility company. If planned and designed properly, the roof-mounted solar panel system can be the primary source of your energy requirements and the regular grid power being used in emergency situations only. The monthly savings will break even the investment in solar panels will a matter of few quarters.
- To earn money by supplying to the grid – if your system is designed for on grid operations, surplus power can be returned to the grid. Based on where you live and your agreement with the local utility company, you can get a steady income from this investment. If done during peak hours, it also helps ease the load on the regional grid and keeps it running at optimum efficiency
- More savings – many governments now provide subsidies and perks to anyone who opts to use solar energy instead of the utility supplied energy. The subsidy is in the form of discounts on annual taxes and rebates in the investment for solar panels installed on the rooftops.
- Investment in solar panel manufacturing companies – even if you do not have a house or office that has a roof to install a solar panel system, you can still make money by investing in the shares of a solar panel manufacturer. With the current energy scenario and the growth forecast in this industry, good returns are assured.