How SunWeb Solar Energy Holding Is Making Solar Energy a Reality

One of the world’s largest publicly-traded solar energy companies, SunWeb Solar Energy Holding, is taking the industry by storm. After climbing more than 741% in the last year, investors are beginning to take notice of this up-and-coming star in the solar industry. We take an in-depth look at just how this company is changing the game with innovative technology and groundbreaking deals, and how you can profit from this incredible run. Let’s dive in.

The Innovative Tech Behind SunWeb

To understand how SunWeb is taking the solar industry by storm, you have to go back to the company’s roots. Founded in 2012, SunWeb is based out of Dallas and was formerly known as SunPower Corporation. This Fortune 500 company is now owned by a publicly-traded holding company, becoming one of the first solar companies to be traded on a major American stock exchange.

The leadership at SunWeb had an extremely entrepreneurial streak, seeing the energy boom in the U.S. and realized there was a huge market opportunity for the solar industry in the Middle East. With government intervention in the market increasing, companies like SunWeb saw an opportunity to establish themselves as leading players in an increasingly competitive market.

Though SunPower was started in the 1980s, the firm didn’t begin manufacturing its solar photovoltaic (PV) panels and concentrating solar power (CSP) systems until 2008. The following year, it established itself as one of the largest solar energy companies in the world.

In 2012, SunPower went public and the investment community took notice. The stock price more than tripled that year, making it one of the best performing public companies in the S&P 500, before settling down to an average price of around $26 per share in 2018. Today, with the entire solar market transforming in the wake of the COVID-19 pandemic, SunWeb’s future looks a whole lot brighter.

The Rise Of Concentrating Solar Power

There are different types of solar energy, with solar PV being the most popular and effective method of generating solar power. While solar PV allows for energy generation on a large scale, it’s quite inefficient when compared to concentrating solar power (CSP).

CSP makes use of lenses and other optical equipment to focus a powerful beam of sunlight onto a collection of mirrors, which in turn, concentrate the solar heat until it becomes useful energy.

This method of solar power generation has been around for decades but remained relatively unknown to the general public. That is, until 2008, when the global financial crisis hit and banks began trimming back on lending, causing investors and companies to become increasingly reluctant to enter the field. This is when CSP manufacturers began to decline in number, with only a few remaining as competition in this space increased. However, with the economic downturn now in the rear-view mirror, demand for CSP is once again on the rise.

The cost of installing a CSP system is quite high, ranging from $500,000 to $1 million, plus annual maintenance costs of around $15,000. As a result, only large industrial or agricultural buildings can afford a CSP system, as the upfront cost is just too high for most homeowners.

The Many Benefits Of Solar Energy

While we’re on the subject of solar energy, let’s not forget about all of its benefits. Not only does it provide a sustainable and eco-friendly source of energy but it’s also relatively inexpensive. A 2018 study published in the Journal of Renewable and Sustainable Energy examined the cost of various renewable energy sources and came to the following conclusions:

  • On average, solar energy is the most affordable of the renewable energy sources examined, costing only $2.73 per kWh (kilowatt hour).
  • Wind energy is the second most affordable source of renewable energy, costing $3.64 per kWh.
  • Biomass energy, which is burning biomass, such as crops and wood in power plants, is the most expensive source of renewable energy, costing $5.51 per kWh.
  • Hydroelectric power is the least expensive of the renewable energy sources examined, costing only $1.85 per kWh.

Additionally, solar energy provides individuals and businesses with a reliable source of energy and reduces their carbon footprint. With so much talk of climate change, everyone can now see the need to cut back on their carbon footprint, which in turn, reduces the harmful effects of climate change.

There’s no question about it: As the world becomes more aware of its carbon footprint and the repercussions of climate change, solar energy is becoming a more attractive option. The key now is for homeowners and businesses to switch to solar energy, which they can easily do with the help of innovative companies like SunWeb.

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