The history of renewable energy is longer than you might think. The first hydro-electric power plant was built by Nikola Tesla and George Westinghouse in 1895. The Dutch began using wind power in the form of windmills as early as 1200- a technology that first appeared in Ancient Greece in the 1st century AD.
Comparatively, solar as a form of renewable energy is brand new. The first commercial solar cells became available in the 1950’s. Nevertheless, solar power has come a long way in such a short space of time.
The inevitability of solar growth is becoming more and more apparent; and at ModSolar we believe that entering the solar market today, not only makes environmental sense, but sound business and economic sense as well.
There are few key reasons why solar power is the inevitable and logical decision for individuals, businesses and economies.
First, the rapidly decreasing costs of installation. PV Magazine reported last year that the costs of solar power had decreased as much as 60% in just 18 months. Improvements in storage capacity, generation and marketing and sales software, are all contributing to this continued decrease in costs and rising efficiency.
Secondly, applicability. Solar power is capable of being adapted for a huge range of applications. Today, everything from residential and commercial properties to cars and humble garden lanterns can be run on solar power and these applications are continuing to expand.
There is really no limit to where solar could end up. The expansion of solar transportation to trains, ships and planes; the growing number of phone companies developing hybrid or full-solar phones and tablets; even solar backpack chargers are becoming increasingly popular.
The key point here is that no matter what business you are in, solar power makes sense whether you are looking for a small, medium or large scale system.
Third, solar systems themselves are on track to becoming increasingly easy to use and install. Think about the way you go to the store, buy a television, take it home, plug it in and it just works. This is the direction that solar systems are heading.
Now think about how many rural and third world applications that this will have in the future. As systems become cheaper and easier to use, more and more remote communities will look to solar as an alternative to expensive generators or unreliable grid systems.
The final big argument in favor of joining the solar market is to take a look at the competition. In today’s environmental, business and economic climate, reliance on fuel and coal generation is becoming less and less financially viable.
All the while, the installation and maintenance costs of solar will continue to decrease, making solar stocks an increasingly competitive market to be a part of.
So there you have it. Decreasing costs, increasing ease of use, rising stocks and a continually expanding variety of applications. What are you waiting for? Solar is inevitable!