3 Reasons to Consider Renewable Energy Services
As alternative energy sources become more ubiquitous, opportunities to use renewable energy sources are becoming increasingly available. Solar energy, bio-fuels, and wind farms are increasing in popularity and affordability, making the prospect of investing in renewable energy more and more enticing.
However, if you’re still not sure that using renewable energy is the right move for you, here are 3 major reasons why you should reconsider the possibility.
1. Renewable Energy Benefits Us All
As we all become more knowledgeable about climate change and the state of the environment in general, a growing number of people are searching for cleaner and more sustainable energy solutions. From LED bulbs to electric cars, people are doing what they can to lessen their dependence on fossil fuels and reduce their carbon footprint. Since renewable energy is one of the best ways to do this, its popularity is quickly spreading.
Additionally, as consumers become more informed, more people want the companies they depend on for power, water, and other resources to be environmentally friendly. This is leading to more companies striving to adopt ‘greener’ policies to grow their market share and build a loyal customer base.
This trend doesn’t appear to be a flash in the pan, either. In fact, when polled, younger generations have indicated that they are willing to pay more for products and services that are provided by companies that abide by eco-friendly policies and practices.
2. The Demand for Renewable Energy Sources is Growing
Because technological advances have lowered the cost of renewable power generation, an increasing number of businesses and homeowners are switching to renewable energy. Renewable energy can also be a great investment, as energy-efficient buildings typically have increased property value.
Additionally, new renewable energy technologies are being developed every year, and many companies want to be early adopters in order to ‘get in on the ground floor’ before its anticipated growth.
3. People are Recognizing the Other Benefits of Renewable Energy
Apart from helping the environment, people are starting to understand that renewable energy has an incredible amount of economic and socio-economic potential as well. Currently, the solar industry employs more than 260,000 people. This number is only expected to grow, and not just for solar. In fact, a publication from the International Renewable Energy Agency (IRENA) estimated that the renewable energy industry could employ as many as 24 million people by the year 2030.
There are many other examples that demonstrate renewable energy’s benefit to the economy. For instance:
- Wind power is already providing approximately $222 million per year for rural landowners
- Renewable energy rates are typically far more stable than their fossil fuel counterparts, since they don’t require fuel
- As the demand for solar energy grows, the need for manufacturing and installation jobs is also increasing
Consider Investing in Renewable Energy
As the market continues to shift toward renewable energy generation, there may be no better time to become an investor than right now. A 2019 forecast by the U.S. Energy Information Administration projects that renewable energy will be the fastest growing source of electricity generation, and DNV GL’s Energy Transition Outlook 2018 report predicts that solar energy in particular could grow by a staggering 6,500% by 2050.