The global solar market has increased more than 1,000 percent in the last decade, blowing away market projections and enabling more and more players to participate. Panel installation costs continue to fall dramatically. As a result, solar electricity is approaching economic parity with traditional energy sources in many markets.
Solar is an increasingly wise investment, for many reasons:
Manufacturing scale and technological developments continue to reduce solar costs. Because a solar plant requires no fuel to operate, the price of solar electricity remains static for the life of the project. This predictability is increasingly important to financial and utility managers, and provides a valuable hedge against electricity price volatility over time.
And, because peak solar energy production generally aligns with peak power prices, solar projects tend to receive high wholesale power prices, improving the overall project economics.
Finally, commitments to purchase solar power don't require large up-front capital expenditures, a feature that eases institutional budget and cash flow concerns.
Traditional power plants generally damage the environment, release harmful greenhouse gasses, and require massive amounts of water to operate. Solar projects, on the other hand, harness the power of the sun, emit zero harmful pollutants, and reduce the carbon footprint of the organizations that invest in them.
An investment in solar energy makes a big, bold statement to your stakeholders about your commitment to the environment and to your community.