Businesses or individuals can go solar to fight climate change.
1. Huge investments will be needed to promote solar innovations/gosolar because of the high initial costs involved.
It is true that fighting climate change will take combined efforts of government, private sector and individuals like you and me. I have worked on various projects concerning mitigating climate change, and I have come to a conclusion that innovations to reduce the effects of climate change will require huge amounts of finance by the private sector. However, still money alone without innovation in policy and technology will be a waste of time and therefore this calls for a multi-stakeholder approach where businesses work together with government and financiers to solve this challenge.
2. Solar innovations/gosolar
When it comes to solar innovation or gosolar, this approach will work well because the government will create an enabling environment to attract the private sector and individuals like you and me to innovate and cause a market transformation that will ensure wider adoption of solar energy. For example, the private sector has developed a wide range of products that use solar energy as their source of energy, including solar generators, solar chargers, solar lighting, portable solar gadgets and solar laterns, but for this to be a closed loop, individuals like you and me as well as businesses need to act to switch to such solar photovoltaic products or gosolar.
So far this approach of creating solar energy markets is working because the government is providing tax credits that cause the private sector to innovate by researching on how to develop innovative products as well as innovative business models for engaging the end-user. For example, to obtain solar panels, the end-user does not require putting any money down because use of solar power purchase agreements (SPPA) and leasing are developed with the idea that a third-party investor will invest their money into the equipment. Then the investor will charge the end-user a monthly fee that is slightly lower than their current energy bill. This way, the third-party investor bears all the risks, but enjoys an attractive rate of return when a customer agrees to gosolar.
However, it takes the government to provide the 30% federal tax credits and other additional state tax credits to reduce the high initial costs of solar panels. Also, the investors or private sector are encouraged to put their money down because they know it will cost them half the actual cost (i.e. high tax appetite) and thus are able to claim the full 30% tax credit while enjoying a good rate of return.
A solar panel calculator can show you the actual cost of a typical solar panel based on your current energy bill and how government tax credits help to reduce this cost by almost half thus causing the solar panel affordable to a third-party investor. You as the end-user or customer you are not required to put any money down and you can enjoy the benefits of adopting the technology such as reduction of your energy bill anywhere from 25% to 30%.
To get started to determine how much you can save with solar energy with no money down to gosolar and enjoy the benefits of solar while fighting climate change.
3. Can the move to gosolar help to fight climate change?
In my personal opinion, it will take homeowners and businesses like you and me to create the necessary awareness if we are going to fight climate change. One way is to gosolar or adopt sustainable technologies such as solar panels. It is the combined effect of adopting sustainable technologies that would have a meaningful effect in reducing our carbon footprint. The total cumulative carbon footprint reduced in this regard, I believe it would be cost effective and would create jobs, for solar installers, solar manufacturing businesses, marketing agencies etc.
Also, it will take you and me to fight climate change after the government has created the enabling environment to attract investments from the private sector.
If you are interested to go solar today, try using this solar panel calculator and will help you to compare different go solar energy plans.