According to Energy Secretary Moniz as quoted on the US Dept. of Energy website, the United States has significantly increased the amount of energy-produced form solar and wind. In fact, the numbers have doubled in the past few years. The Energy Department wants to aid the growth and the standing of the United States in the clean energy movement by supporting job growth, and increasing performance while reducing costs. The goal of the department is for the U.S. to hold the number one position as global leaders of clean energy.
Goals Crated from $25 Million in Funding
The amounts of energy produced by renewable sources, such as solar and wind, have an expectation by President Obama to double again by the year 2020. Since the cost of solar energy systems have dramatically fallen, fifty percent, American families and businesses are employing the affordable clean energy to their residences and businesses. The Department of Energy is pouring $25 million into new funding to spike the solar manufacturing produced domestically in the U.S. The goal also remains to speed up the commercialization of efficient, and affordable solar technologies. This funding brings opportunities to a mounting solar workforce and shall raise the United States’ magnetism in the global clean energy market.
Work Needs to be Done, Before Solar Manufacturing Costs Fall
The funding geared towards helping solar manufactures conquer the biggest setbacks and highest cost contributors across the hardware supply industry, while making improvements in a wide variety of production processes, essentially saving time and money. Cutting project construction time by producing new technology that lowers domestic solar manufacturing costs and installation time is one of the projects eligible under the new funding.
By 2020, The Energy Department’s imitative aims at making solar energy entirely cost competitive with our traditional sources of energy.
Are We Seeing Solar Power Returns on Our Investments
The best investment a person can make is in solar energy is a solar investment. The potential for substantial returns on the solar investment is tremendous due to the high productivity of solar energy. One research study shows us for every half hour we collect sunshine and convert to solar power, the entire planet receives enough power for one year.
Statics in every region of the world predict solar power investments are increasing as we consume massive amounts of energy across the globe. Studies show solar power usage spiking to 15% of the energy consumption worldwide by 2030.
In the United States, almost all the states benefit from solar energy, these states have some of the highest solar power investment returns.
7. New Mexico
Germany and Japan are world rulers in manufacturing and investing in solar power. They pioneer new solar power manufacturing technologies to excite solar power investors and it seems they are not as torn politically as other countries. California is a leader in the United States for both consuming solar energy and investing in solar energy.
Before investing in solar energy, investors plan carefully and calculate the ways they will receive a return on the solar investment before jumping in blindly only facing failure. Solar investors have an eye for untapped area in the market with potential. For instance, there are innovating new ways to invest in solar energy, solar shingles installed on residential rooftops instead of the giant panels.