October 1, 2018 @ 8:09a PST, Irvine, California, USA
Clean energy has been in the news for some time, mainly reflecting the increasing use of wind and solar energy. In fact, from 2008 to the present, solar and wind energy capacity has more than tripled. The U.S. Energy Information Administration (EIA) has reported that electricity generated from solar and wind is growing faster than electricity from fossil fuels.
Wind energy has outperformed all other sources and solar energy has advanced in comparison with other derivatives, clearly showing the growing dependence on clean energy. However, solar and wind only contributes a fraction of the total electricity consumed, but the future is bright as they continue to grow at an incredible pace.
The renewable energy generation industry has been boosted by a record-breaking surge in solar panels managing to generate 40 times more than it produced a decade ago.
The renewable energy generation industry has been boosted by a record-breaking surge in solar panels managing to generate 40 times more than it produced a decade ago. Solar energy only produced 0.5% of electricity in the U.S., but towards the end of 2017 that figure had increased to more than 2% of electricity production, which can power more than 7 million American homes.
Wind energy generation has also seen a record-breaking surge over the past decade which has grown more than 5 times. While wind turbines contributed to 7% of electricity in America, which is enough to power 24 million American homes. That isn’t the only good news, the average U.S. homeowner is also consuming less energy because of energy efficiency improvements and implemented regulations.
RELATED STORY: Hurricane Florence Could Lead to Investment Opportunities
One fact to bear in mind, the United States is still the second-largest growth market for renewable energy, despite uncertainty about its energy policies. The main drivers of clean energy in America remain solar and wind energy generation, which have been boosted by the implementation of multi-year federal tax-incentives, along with state-level policies and renewable portfolio standards.
Over the next 5 years, solar and wind energy will together combine to form more than 80% of the renewable energy growth in the world. It is estimated that Denmark will become the world leader in renewable energy generation by 2022, as 70% of its electricity will be generated by solar and wind. There is no denying that the energy generation system in the United States is changing, and renewable energy resources like solar and wind are definitely booming.
The speed at which wind and solar energy generation are growing is only going to improve…
The time is ripe for businesses to take advantage of the tax benefits offered to companies that are riding this new wave of clean energy generation. The renewable policies in the United States have given businesses the right message, which is to go green and benefit from tax incentives and breaks. The speed at which wind and solar energy generation are growing is only going to improve, which makes it one of the best times for Greenfield opportunity seekers to invest in renewable energy resources like solar and wind energy.
Ꙉ The greatest way to travel through innovative changes is that of a renaissance man.
ABOUT THE AUTHOR: Jake Cheng is the Director of Business Development for Vasari Energy, Inc., based in Irvine, CA, and has nearly a decade of experience working in the international business development sector focusing on finance, expansion and renewable energy. Jake has worked directly with engineers and environmental specialists in obtaining necessary information for permitting and sourced land deals for potential construction ready assets.
This is a sponsored content by Vasari Energy, a company that seeks to capture growth in the fast-growing solar energy market by investing in the development of utility, commercial, industrial, municipal, and community solar power systems, and by making strategic acquisitions to rapidly build revenue.