The field of renewable energy has seen more growth over the last few years than many other industries. Investing in sustainable initiatives was once primarily a way of acting on behalf of the environment. But the financial incentives have become a reality that both large corporations and private homeowners are no longer able to ignore.
Here are a couple of other reasons why renewable energy provides several smart investment opportunities:
Solar energy is affordable:
There still exists the assumption that renewable energy items are prohibitively expensive.
However, an article by The Guardian quotes Jenny Chase, of Bloomberg New Energy Finance, exclaiming that "this stuff is really cheap."
Along with the demand for green energy products rising over the years, so has the supply which has led to large drops in prices. Solar panels in particular become increasingly versatile and affordable in recent years for potential consumers. Based on this trend, Bloomberg predicts that solar energy will quadruple in use throughout the world by the year 2020.
Wind energy is growing:
As of 2010, wind turbines have been generating at least 2 percent of America's electricity, equivalent to 8.7 million homes. Wind turbines not only don't release any fumes and keep energy bills lower, but they also serve as protection against the volatility of fossil fuel prices for larger properties. One of the conditions that makes wind energy a slower growing trend is that it's a more appropriate form of clean energy for homes with at least an acre of yard space for maximum effect, on account of zoning requisites and a need for adequate wind speeds.
If you live in the Virginia or Washington, D.C., area and are looking to have an energy audit evaluate your own power consumption needs, schedule an appointment with leading home inspection company Alban Inspections!