With the world’s foremost experts on sustainable energy predicting a future in which we will need to rely more on clean energy than oil, it’s clear that we’re going to need to find new ways to power our cars and homes. And what could be more exciting than discovering a new source of clean energy that can be used to generate electricity on-demand? If you’re looking to venture into solar energy, then this article is for you. Here we’ll explore how you can start your own sustainable energy business, the various investment opportunities that exist, and the steps you can take to ensure that your business is as successful as possible.
The Bright Future Of Solar Energy
With oil prices high and government subsidies for renewable energy sources, there’s never been a better time to enter the solar scene. The renewable energy boom has encouraged many individuals and businesses to start up with the aim of harnessing the power of the sun. Whether you’re keen to build a small-scale solar installation on your roof or you want to set up a lucrative business supplying and installing solar panels across the globe, the future of solar energy seems extremely bright.
In 2020, there were over 2.7 billion mobile phone subscriptions worldwide. Just six years later, that figure had soared to over 3.9 billion, and it’s expected that by 2025, there will be over 5 billion subscriptions. The world is slowly transitioning to a digital sphere, and with each new generation being born into the social media age, the demand for digital devices and the web just keeps growing.
With so much demand, it’s easy to see why companies are flocking in to meet the need for solar installation and equipment. Global market research company, New Media and Marketing forecast that by 2025, the global solar market value will reach $147 billion.
The opportunity to make money from solar energy is huge. Not only will you be able to secure long-term power bills (often with government subsidies), but you will also be able to sell your product or service to the millions of people who are increasingly reliant on a digital platform for their everyday life.
The Varied Economics Of Solar Energy
While the cost of generating solar energy has come down significantly in recent years, it’s still incredibly expensive to set up a large-scale solar farm. Just one solar farm in Japan, for example, can cost up to $30 million. That’s not including the installation, materials, and manpower costs. But thanks to government subsidies and the booming market, the cost-to-income ratio for solar projects has been declining, and many businesses, individuals, and even some small entities are looking to invest in solar energy.
One of the great things about solar energy is that, as a business owner, you don’t necessarily need to make a profit. As long as you can show that the project is financially viable, then you can apply for government loans and grants to reduce the financial burden.
The Rising Popularity Of Small-Scale Solar
Not only is solar energy relatively inexpensive to install and run, but it’s also a great way to reduce your carbon footprint. The chances are, if you’ve driven a car in the past, you’ll appreciate the carbon neutral solar energy option. If you live in a developed country and have access to electricity, then you’ll most likely already be taking advantage of solar power.
And what if you don’t live in a developed country? Many countries have specialized in developing solar-friendly power plants for remote locations and for those who are unable to afford electricity generated by large power stations. These power plants often rely on the power of the sun to generate electricity, as well as small-scale wind turbines and water microhydro power plants.
Where To Invest In Solar Energy – The Bright Future
One of the best places to invest in solar energy currently is somewhere in the middle east. Saudi Arabia and other parts of the Middle East have great weather and reliable power supplies, making them the perfect place for a solar power project. As the world’s largest carbon emissions exporter, the Middle East countrysides have a clear advantage when it comes to selling solar power to other nations. Additionally, a lot of the population in these countries still live in a traditional environment that is perfect for a solar power plant. The cost of power in the Middle East is also reasonably low, making it ideal for profit-making purposes. It’s a great place to do businesses and a great opportunity for an investor to get on the map of the solar energy sector.
Take A Closer Look At The Risks
One of the major risks inherent in any investment opportunity is the risk of loss of capital. No investment is risk-free, and the greater the risk you are willing to take, the greater the chance of gain. One way of minimizing the risk of loss of capital is to look for opportunities in well-known and secure markets. The solar energy sector is currently dominated by a few large companies, and it is a great place for a small business to bootstrap itself into becoming a major supplier to the marketplace. The more you know about the market you are investing in, the better. Having said that, it’s always a good idea to minimize your risk by taking into account the advice of experts in the field.
The greatest advance in the field of sustainable energy in the last decade has been the development of solar energy. The renewable energy boom has encouraged many businesses, individuals, and even some small entities to get involved in the sector. And although the cost of power from solar energy has come down significantly, the greatest reductions in cost have occurred in the last few years, as the market has matured, and many start-ups and small and medium-sized companies have entered the scene.
With power prices expected to rise as demand outstrips supply in the next few years, investors may want to step up their game and look for alternative sources of power to bolster their bank accounts.