Swapnil Jagtap received his undergraduate degree from Harvard and his MBA from the University of Chicago, where he was also a research fellow. He is currently the general manager of Sagar Energy, a company he cofounded in 2013. Sagar is designing and manufacturing next-generation solar-powered desalination systems that can efficiently produce potable water from the sea. His work has been featured in leading publications such as The New York Times, the Financial Times, and the Wall Street Journal.
On the Rise of the “New Age of Energy Tech”
In the last two years, we’ve witnessed an explosion of interest in renewable energy technology and innovation, driven both by positive environmental impacts and a desire to reduce one’s dependence on fossil fuels. The new age of energy tech companies like Sage, Suntech, and Hanergy have raised billions of dollars in funding and established themselves as market leaders in solar refrigeration and refrigeration technology. As a result of this interest, prices for solar panels have dropped by more than 60% and will continue to decline, benefiting consumers and businesses alike.
How Does Solar Refrigeration Work?
It’s a cold winter night and you’ve just returned from a long day of skiing. You’re feeling relaxed and ready for some ice cream when you notice a sudden flash of light coming from outside. You look out the window to see a bright light shining from the peak of a large metal tower. You blink several times and then notice that the tower is actually generating electricity, which is being fed into the electrical grid. Your eyes widen as you think of all the energy that was just produced – enough to heat your home for the night.
That’s what solar power is all about – using the Sun’s energy to generate electricity. While sunlight provides a virtually unlimited supply of energy, it is not practical or eco-friendly to simply throw it away. For over a century, scientists and engineers have been researching ways to capture the Sun’s energy and turn it into useful forms of energy, like electricity.
The Rise of the Desert-to-City Solar Corridor
The United States is the world’s #1 exporter of ethanol, with California, Texas, and Florida leading the way. Corn production is high in these areas, resulting in less expensive fuel and a rise in the automotive industry. The problem is that as much as 80% of the country doesn’t have access to electricity, which makes it difficult to use conventional vehicles. A sustainable solution would be to generate electricity using solar power, which is why so many car companies have recently started to make the switch.
Where Can I buy Green Energy Technologies?
It’s almost impossible to find a local retailer that doesn’t carry renewable energy products, from solar cells to solar water heaters and battery storage. Every industry sector is now jumping on the green energy bandwagon, including oil and gas companies that see it as a way to reduce their carbon footprint. The key is to purchase reputable brands that have a good standing in the industry and from companies that offer a money-back guarantee if you meet the right conditions. Many green energy companies go beyond providing products and services and include important components like installation and ongoing project support in their packages. You’ll often find that these companies have a professional and experienced team that can both provide installation and walk you through the entire process, so that you can get the most out of your new investment.
The Importance of Stable and Profitable Electricity
The New York Times recently profiled five major American companies that were all at one time or another plagued by high power prices and fluctuating energy costs. The article noted that while the United States as a whole is experiencing a rise in energy affordability thanks to decreased energy production costs and major corporate investments in new energy technologies, there are still many sectors where prices continue to rise each year. Even the car industry, which benefits from energy subsidies and government incentives, has seen the effects of high power prices, with many manufacturers switching to using hybrid or fully electric vehicles.
If you’re investing in renewable energy products like solar panels, you want to make sure that the company you’re purchasing from is both reliable and cost-effective, two important factors to consider when choosing an electricity provider. When looking at cost effectiveness, be sure to keep in mind that the cost of producing electricity using renewable resources is generally higher than that of electricity generated by conventional methods. However, you can usually find many different offers from different companies, and you should be able to find one that fits both your needs and budget. Reliability is a little more complicated to assess, but you can find many companies that offer upfront warranties and affordable maintenance contracts, ensuring that your investment will be both safe and functional.
The Changing Face of Energy
Renewable energy is certainly a growing industry, offering great opportunities for investors who are looking to get in on the ground floor of what many predict will be a major shift in the global energy industry. The sector is predicted to grow from around 2% to nearly 4% of the total energy market by 2020.