Among sources of electricity solar power is growing the fastest. The US Energy Information Administration reports that solar energy production increased 46.9% between 2016 and 2017. Wind power was the second fastest growing source of renewable energy increasing 12% during the same period.
The editor of Banyan Hill Publishing’s “Total Wealth Insider” newsletter Jeff Yastine explained the sudden surge in the production of electricity using the sun. Improved production methods led to panels being produced more quickly. The increased production resulted in a 40% drop in the cost of solar panels.
Two recent government rulings are beneficial to both producers of solar energy equipment and consumers. For homeowners, the cost of purchasing photovoltaic panels and storage units can be defrayed by federal tax credits. Added savings will come from decreased dependence on utility companies. Visit stockgumshoe.com to learn more.
Operators of solar grids have been mandated by the Federal Energy Regulatory Commission to improve their power storage capabilities. Suppliers have a year to draft a compliance plan. Stored solar electricity will create an emergency source of electrical power when panels alone or turbines can’t satisfy the demand for electricity.
Jeff Yastine reports that the one stumbling block solar energy faced was affordable storage batteries. This problem is already being addressed. Tesla and Daimler are among the battery producers that have been stepping up their production of storage batteries. Battery manufacturers are also building more production facilities.
For a time Wall Street had missed the mark by undervaluing solar industry stocks because of concerns over reduced profits caused by lower selling prices and competition from Asian producers. The former anchor of the “Nightly Business Report” on PBS Jeff Yastine saw what Wall Street had missed.
Despite the stock market’s pessimism, the University of Florida educated Yastine advised his readers to invest in solar power. Who is Jeff Yastine to second guess Wall Street? A successful investor himself, Jeff Yastine has covered the business world for 32 years. In addition to his editing duties with “Total Wealth Insider”, Jeff Yastine contributes to Banyan Hill’s newsletters “Winning Investor Daily” and “Sovereign Investor Daily”.
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