Looking for a quick way to get some cash while also helping the environment? You can take advantage of the sunny weather in the United States by investing in public solar energy companies. By investing in these companies, you will receive a share of the power created by the sun. So, if you live in the United States and want to help the environment without taking on too much debt, you can consider investing in public solar power. Consider these companies to be a bit like buying a Starbucks coffee, but instead of getting a warm rich coffee, you will get a share of the power generated by the sun.
What Are Public Solar Companies?
You might wonder what public solar companies are since you aren’t buying any physical product. Well, the simplest way to think about public solar companies is as a sort of corporate citizen. Simply put, these companies operate in the public sphere and are required by law to source power from renewable sources.
So, when you invest in a public solar company, you are indirectly investing in renewable energy. Plus, you will also be doing your bit to help keep the lights on.
How Do They Work?
The companies that generate power from the sun sell their energy to consumers. So, in this sense, they are very similar to a utility. But the important difference is that instead of selling energy to one company, they sell it to a group of utilities and other companies.
Imagine buying an electricity plan from an energy supplier that supplies power to 1 million homes. Now, imagine that same energy supplier buying the electricity plan from a public utility that provides electricity to 600,000 homes. The money you are paying for your plan is going towards buying electricity for half a million people. When you invest in public solar, you are helping a lot of people by creating a demand for solar energy. You may also be helping the environment by reducing your energy dependence on fossil fuels.
The best part about buying shares in a public solar company is that you don’t have to do anything to participate in the earnings. Just buy the share and you will get paid every three months. Plus, you will be supporting environmental causes while also helping your community.
How Much Do They Cost?
This is always a difficult question to answer since the costs fluctuate based on the market price of solar energy at any given time. But, from personal experience, I can tell you that the average cost of solar energy shares is around $100 a month. This covers the cost of electricity as well as the cost of the shares themselves. So, if you want to profit from the sun, you can expect to spend around $140 a month on electricity bills alone.
This is significantly less than what you would spend on electricity if you were to purchase it directly from an energy company. The cost of purchasing these shares will vary based on the current market price of solar energy but is usually less than most other forms of investment out there. Plus, you will receive some tax benefits and the satisfaction of knowing you are helping the environment.
Where Can I Study More About This?
If you have an interest in investing in solar energy and want to learn more, you can study the topic at length at Sallie Mae.com. The site has hundreds of webinars and videos available about all aspects of investing in the sun. So, if you find yourself wanting more information, you can’t go wrong with Sallie Mae. They also have an Invesco Investment Research publication that focuses on Solar Energy as well as other types of alternative investments.
Investing in the sun isn’t a popular choice for everyone. If you are looking for a passive income stream, you might want to consider other options. However, if you are looking to reduce your carbon footprint and don’t mind the occasional twinge of guilt, investing in solar energy is a viable option. Plus, with the cost of solar energy continuing to decline, the opportunities to make money from the sun will continue to expand. So, keep an eye out for these stock shares and be sure to act fast before someone else buys them all up!