Why Solar Panels Are Greatly Profitable?
The beauty about the solar industry is that we are relying on a source of energy that is providing us more energy than our planet even needs. Our current objectives and mission are being able to effectively utilize this energy and to have it replace many forms of expensive, inefficient, and harmful electricity generating methods.
What I love about the solar industry, and why I decided to devote my life to helping grow my company is because it’s a ‘win-win’ for everyone. No one loses. And with the countless amounts of benefit’s, it seems hard to believe how it wouldn’t be a profitable investment for anyone.
Below I have listed them in terms of consumers, businesses, and our planet.
Electricity Costs: Depending on where you currently live will determine how much solar energy you will receive and how much it can reduce your energy costs. The most widely known and promoted solar program currently available is called “Net-Metering” whereby you install enough solar panels to reduce your energy costs to net $0. The cost of the system per month is always less than your current monthly hydro so you are never paying more per month (No-Cost Solar Program).
Monthly Revenue: Although not offered everywhere, some countries and cities offer the ability for property owners to generate monthly income based on the energy they produce. This is known as microFIT (Under 10kW) or FIT (Over 10kW). Sometimes government programs offer both Net-metering and FIT which reduce your electricity costs and generate your revenue based on the excess energy produced. A lot of countries are installing solar farms because of the amount of revenue they can produce for themselves.
Properties Value: Now this will greatly depend on your areas economic position, size of the solar system, and current demand for solar in your area. But normally both residential & commercial property owners can increase the value of their business by 11-25% just by installing solar panels. The reason for this is because you are locked in a fixed electricity rate and no longer must pay for increasing electricity costs.
Tax Benefits & Government Rebates: Depending on where you live the Government is helping reduce the cost of the system either through rebates or through tax credits. For example, in Florida you receive a 30% Federal tax refund, and in Manitoba you receive a $1 back for every watt you install on your property.
Mortgage & Insurance Benefits: Also depends on where you currently live but Mortgage or Housing Corporations will often offer premium refunds or interest rate reductions by installing energy products such as solar in your home.
Manufacturers: Manufacturing companies are profiting the most when it comes to the solar industry, especially the biggest leaders like Jinko and Canadian Solar. China seems to be providing the most cost effective and energy efficient solar panels so far and are selling their panels at wholesale prices to energy companies all around the world.
Energy Companies: Energy companies that are involved with installing solar panels on residential, or commercial properties can either produce income from their local utility or help power cities through large solar generators.
Solar Installers: Also an economic advantage for providing more job opportunities in the renewable energy sector. Companies who create agencies that outsource solar installers to other energy companies profit greatly.
Research & Development: Universities & energy companies are spending millions all together to produce more energy efficient and cost effective solar panels in which they can sell these patents to suppliers & manufacturers through a licensing agreement. Generally, these companies profit through a royalty stream.
Economic & Environmental Profitability:
Economic Value: The economic value of solar is extremely large particularly since it provides so many new job opportunities, and helps everyone’s financial situation (saves everyone money, and increases their properties value).
Environmental Aspect: The more we lean towards clean energy methods the more our environment benefits from it. This means less reasons to spend on expensive electricity generating methods and less expenses towards cleaning up harmful chemicals in our environment.
Energy Replacement: Because we are moving away from expensive, and harmful electricity producing methods everyone not only pays less for electricity but the actual production of electricity is far less as well.