Without a doubt, solar energy is the future of energy.
Energy from fossil fuels is finite, harmful to the natural environment, and the source of many geopolitical issues.
Solar energy, to the contrary, is infinite in supply, clean and renewable, and already cheaper than fossil fuels.
One recent report by Lazard, an asset management firm, shows that the cost of solar energy has dropped 86% since 2009.
The report went on to reveal that to produce a single megawatt-hour of electricity through solar, it only costs around $50, as opposed to gas which costs $60, coal $102, and nuclear $148.
By this logic, as a result of solar, the United States will be able to generate enough of its own energy to completely end its energy dependence on other nations like Saudi Arabia, Mexico, Venezuela, and Iraq.
Over the past 30 years, the United States sourced over 90 billion barrels of crude oil from these countries and others.
That’s a whole lot of money that the United States hands other nations as a result of the production and transportation process. Not only that, the U.S. currently spends $81 billion every single year to protect these oil supplies.
Yet, given that solar power currently only provides 1% of the world’s energy needs, it’s easy to underestimate this emerging trend of solar energy use.
And it’s even easier to dismiss the potential investment opportunities that come along with it.