Six Reasons Why Solar Has Come Of Age and Is Open For Business
Here's a cool article about how and why solar has come of age.
Here's an excerpt:
There aren't many ways to make money and do the planet a favour at the same time, but investing in solar energy might be one of the few.
With the cost of solar now less than, or equal to, the price of conventional power sources, solar is becoming the energy of the future, according to Nathan Lim, portfolio manager at Australian Ethical Investment.
Here are six reasons to invest in solar energy:
1. INSTALLING SOLAR AT HOME SAVES MONEY
While coal-fired power plants produce cheap electricity, the cost of getting the power to homes makes up 40 per cent of the household bill. Meanwhile, rooftop solar has no delivery costs, Mr Lim said.
"Increasingly affordable solar power is driving unprecedented global demand that has resulted in annual growth of 43 per cent over the past 10 years," he said.
"Companies providing goods and services to meet this demand have a bright future."
Also read: Solar-powered plane lands in China on round-the-world flight
2. COSTS KEEP FALLING
US government research shows the installed price of a residential solar system has fallen by 61 per cent over the past 15 years, with prices for larger installations falling as well, Mr Lim said.
He said preliminary data for 2014 suggest the declining price trend for all sizes of solar has continued and might have accelerated.