Investing in Renewable Energy – Solar Power
Following the collapse of the California-based solar company Solyndra, investing in renewable energy like solar power may be the last thing on most investors’ minds. All this fiasco proved was that not even the government is above and beyond making risky investments, and the reality is that other government-subsidized solar companies are thriving. Consumers around the world are demanding clean energy and a break from the fragile energy structure on which we currently rely. Despite this one company going into bankruptcy after receiving government support, thriving companies like the highly-established First Solar (FSLR) have plenty of shares on the market.
Investing in renewable energy like solar comes with risk because this kind of technology is still in its infancy. Investors, as with any endeavor, should be prepared to lose investments. Some companies that both novice and experienced investors may consider are DayStar (DSTI), General Electric (GE), Honeywell (HON), Westinghouse Solar (WEST), Ocean Power (OPTT), and MEMC Electronic (WFR). Research these companies carefully before deciding which one in which you want to invest. The reality is that demand for solar power is only expected to increase, so now could prove to be the ideal time to jump on board.
Solar panels have been available in some form or another for decades, but they were unrealistic to buy due to extremely high costs and complex maintenance. Modern companies have taken this tried and true technology and made it more user-friendly, so to speak. Residential solar models and widespread solar maintenance and installation companies are making it easier for any individual to add solar technology to his or her home. In fact, the solar power purchase agreement has freed homeowners from paying as much as $24,000 in installation and maintenance costs, not to mention the tax breaks that come along with installing the technology.
Although solar power has been around for many years, it’s only just becoming the sensible choice for homeowners and businesses. Residential solar power is slated to become the cheapest, cleanest form of power, at least until something better comes along, so alternative energy companies will constantly look for ways on which to improve current models and make the technology even more affordable to consumers. Some investors will also appreciate the feeling that they are contributing to a brighter, cleaner tomorrow by investing money in alternative energies today. With the possibility of reaching peak oil looming, it’s safe to say that alternative energy is the investment of the future.