A commercial solar company is not the only one that can profit from this energy, individuals too could. How? You may ask. First off, there’s a growing demand for the use of renewable energy. Partly because the price of fossil fuel is on the increase giving energy to become a popular choice for businesses or consumers.
Secondly, the future appears to be bright for energy as nonrenewable sources of energy go into oblivion or fizzle out. This is why establishing a commercial solar company is of the greatest investments to do in 2022! Just keep reading.
The basics: What is this kind of energy?
When light energy from the sun is converted into electricity, it’s termed “solar energy”. There are two popular ways to achieve that. One is by using panels that are in contact with the sun’s rays. Photovoltaic energy is generated using this method.
The second type is by focusing the sun’s energy on one point using mirrors or a series of mirrors. Water becomes steam and then turns the turbines needed to generate electricity.
Just two years ago, this kind of power underwent a steep fall globally. Almost falling $0.06 per KWH. Before that year, about ten years ago, it had fallen more than $0.38.
This is relatively affordable because of its increase in supply. This is because the Chinese market is producing more panels than is demanded, look around, there’s at least a commercial solar company around. Additionally, the cost of installation is also low because of the same reason above; more efficient ways have been developed to install the panel.
Making a profit from panel installation
Governments of some countries and states are beginning to encourage the installation of panels by their citizens by giving some kinds of tax subsidies or grants (AKA tax credits). This has greatly reduced the cost of installation and a commercial solar company could sell its products in peace.
Another means is through what is known as ” net metering”. Through net metering, as a utility customer, you can generate your electricity by yourself, and the excess can be fed back to the grid. This could help lower your monthly bills as you’re credited against your electricity consumption.
The second option is to invest in stocks. You can sort for a commercial solar company and stake your money in it. Recently, the annual growth rate is 52%. One viable option is via Invesco Solar ETF, and maybe any commercial solar company that produces equipment needed for installation or manufacture such as Daqo New Energy, JinkoSolar, etc.
Are the panels affordable?
To thrive well, a commercial solar company aims to cut down the price of its products due to the fierce competition in the market.
Secondly, the affordability of panels is measured in price per watt. You can find panels as low as 0.75$ per watt in the market. Well, other factors also play out.
What’s the name of the largest commercial solar company?
The largest commercial solar company in the world right now is First Solar, currently valued at $8.5 billion.
The conclusion is, that you can take advantage of the net metering or better still invest in stocks.