Not so long ago, solar energy was more promise than reality. Solar panels were expensive, and the savings over existing fuels did not create much of a compelling case. It took years to recoup the startup costs, and sometimes the benefit never even materialized.
But all that has changed. And as we’ll show you today, this is a major catalyst for solar energy stocks…
To be sure, the environmental case was always strong and still is. Free energy from the sun was beaming down on planet Earth, and all we had to do was harness it. It also meant a reduction in greenhouse gasses. And that does not even factor in the fact that oil-producing countries were getting rich at the expense of oil-consuming countries.
The promise was huge. And now, the solar energy industry is finally ready to deliver.
For starters, prices have come way down.
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Average homeowners could find it well within their means to go solar – with a bonus, thanks to new initiatives rapidly spreading across the country and the globe.
Indeed, some Americans are already set to receive several thousands of dollars in bonus cash for switching to solar.
Now, two states are leading the push for solar energy in particular. And you might find these two surprising…
Two Surprising States Leading the Solar Energy Charge
When you think about North and South Carolina, you might think of tobacco, cotton, and poultry farming. But now it’s time to think of these two states as leading the push in solar energy.
South Carolina ranks as one of the top states in solar employment, with 2,829 solar energy employees.
This growth is largely due to the Distributed Energy Resource Program Act, passed in 2014, which allows the state’s electric utility companies to recover expenses incurred to install solar panels.
Not to be outdone, North Carolina ranked second nationwide in solar generation through 2018, according to the Solar Energy Industries Association.
Think about that for a second. California is in the lead, as everyone might expect, but North Carolina is ahead of number-three state Arizona. And Arizona averages over 200 days per year with full sun. North Carolina averages half of that, according to weather-data firm Current Results.
Why is North Carolina so strong in this area? For starters, the Tar Heel State has a brand-new rebate program valued at $62 million.
This new plan incentivizes households to adopt solar, making this energy source a more viable option for consumers statewide, as residents will be rewarded with up to $6,000 for installing rooftop solar panels on their homes.
But this incentive isn’t exclusive to homeowners. There are significant corporate perks as well. Businesses could receive up to $50,000, while nonprofit organizations could get up to $75,000.
Further, innovations in solar energy have slashed the cost of solar technology from over $76 per watt to as low as $0.0242 per kilowatt-hour (kWh). That a 99.97% reduction in cost! Compare that to the fossil fuels, where the cost typically falls in a range of $0.05 to $0.17 per kWh, according to Forbes earlier this year.
While most people don’t think of the south as leaders in solar energy, the movement is just too big to ignore now. The solar industry is finally competitive, and its growth is undeniable.
Here’s what that means for solar energy stocks…
We’re on the Verge of a Massive Solar Energy Boon
Total investment into the energy sector is measured in the hundreds of billions, and we’re not looking at small start-up companies operating out of a garage somewhere.
Companies such as Apple Inc., Amazon.com Inc., Target Corp., and FedEx Corp., along with many more Fortune 500 companies, are allocating increasing budgets into this sector.
Based on current estimates, the potential investment could be $48 trillion in the coming years alone.
And investors who get in early could very well find themselves among the hundreds of newly minted millionaires who are going to reap the benefits of going solar.
You could be one of them. All you have to do is click here to learn how you could make a killing in this U.S. energy market.
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