August 6, 2015 | By RGR Marketing Blog

Investing in Renewable Energy Like Solar

You already know that clean energy is a boon for the environment, and with all the crazy weather patterns we’ve been experiencing, that alone should be enough to make you want to invest in renewable energy.

But contrary to what the big utilities might have you believe, renewable energy sources contribute to our nation’s overall economic health, as well. Clean, green power sources such as solar arrays and wind energy have the potential to bolster the economy in a serious way.

Renewable Energy Like Solar Create Jobs

The state of Colorado was the first in the U.S. to adopt a Renewable Portfolio Standard, or RPS. An RPS sets renewable energy goals and aims to ensure that a state sources a certain percentage of its power from solar, wind, and other renewable sources by a certain deadline. Since Colorado’s adoption of the RPS, renewable energy has generated an estimated 7,000 well-paying jobs.

Not to be outdone, California, which also has an aggressive RPS, is home to more than 50,000 solar workers. Arizona, which has a relatively conservative RPS, employs nearly 8,000 solar workers.

Nationwide, it’s estimated that more than 140,000 workers are employed in the solar sector alone, to say nothing of other clean energy segments.

The bottom line is this: where solar and other renewables go, jobs follow.

Renewables Mean More Disposable Income for Consumers

The more money consumers save on expenses such as energy bills, the more they’re able to spend on other things. With solar energy, the question is no longer, “How much will solar panels cost?” Now it’s, “How much can I save by going solar?

Over the course of 20 years, solar adopters can expect to save anywhere between $15,000 and $65,000, depending on location. It’s fair to assume that a substantial portion of that money will be funneled back into local economies, and that’s good for the overall economic health of our nation.

Renewable Energy Cuts Environmental Costs

Part of the problem with sourcing electricity from fossil fuels is that much of the true cost is externalized. When environmental pollutants contribute to illness or cause irreparable harm to fragile ecosystems, it’s difficult to tally up the true cost.

And while the manufacturing processes that are used to produce renewable energy sources aren’t completely neutral, there’s no doubt that their cumulative environmental effect is much less detrimental than sourcing our power from coal.

Renewable Energy Is Just Getting Started

Renewable energy sources have already had a substantial economic impact in the U.S. In fact, solar alone accounts for more than $15 billion per year in economic benefits, a number that will only continue to rise.

But perhaps the most remarkable thing about the renewable energy revolution is how far it still has to go. We’re only scratching the surface of green power’s awesome potential. However, if current adoption rates are any indication, it won’t be too long before renewable energy sources become an even more impressive economic engine.

Large corporations are going solar in record numbers, and it’s estimated that the our nation’s solar energy production capacity could reach more than 50GW by the end of 2016. However, it’s important to note that that’s only about 2% of our total energy consumption.

Obviously, the potential for expansion in the renewable energy sector is massive.

[Photo Via: BlogDafei]

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