Green Energy: This Chart Shows How Wrong the Skeptics Were on Solar Power
The Bullish Case for Solar Power
Are you bearish on green energy stocks? If so, take a look at the following numbers, because numbers are what divide fact and fiction. They do not lie. And when looked at impartially, the numbers show widespread adoption of solar power.
Getting more people to use solar energy is the desired endgame for advocates. It improves the economics of solar power by driving more competition and innovation.
Critics have usually pointed out (what they think is) a major flaw in solar power. They argue that solar panels cost a heck of a lot—too much in their opinion. Yet the panels don’t produce that much energy, so it’s just an expensive waste.
They say consumers will resist solar as long as panels remain so costly. But wait…
Solar Energy Adoption Becoming Widespread
The data is compelling. It shows how rapidly solar installations are creeping up across the globe. Unsurprisingly, the rise of solar energy happened to coincide with a plunge in the “price per watt” of a solar panel. More energy was being created for less money.
Data courtesy of The Earth Policy Institute
Broadly speaking, those trends gave rise to a wave of solar energy stocks. The recent crash in oil prices turned many investors bearish on those same solar energy companies, but the underlying trends persist.
From: Michael Lombardi, MBA