Environment & Energy
Related: About this forumLike It or Not, Solar Energy Is Here to Stay
By Travis Hoium
May 14, 2013
Investors and politicians have been debating the merits of solar power for decades. In the late '70s and early '80s, the industry went through a boom because of government subsidies that were extremely short-lived, and it took until a subsidy-driven boom in Germany in the early 2000s to get back on the map again. Solar power was always a pipe dream that couldn't get off the ground, unable to compete with fossil fuels that were cheap and plentiful.
But over the past decade, the narrative has changed. Today, solar power is becoming a force in energy, and while subsidies play a role in solar energy's growth, it's the falling cost of solar power that's driving the boom. Like it or not, solar power is here to stay.
The U.S. begins to see the light
The entrenched energy industry and political powers in the U.S. have been fighting any assistance to the solar industry, but their efforts have failed to slow down its growing momentum. Last year, Congress failed to extend the 1603 Treasury Grant program -- a 30% cash grant given to anyone who installed solar -- cutting one of the main subsidies to the industry. Solar installers were still left with an investment tax credit, but that requires taxable income, creating a financing challenge.
How did the solar industry respond to the cut in subsidies? U.S. installations rose 76% last year on the back of a 27% drop in installation costs, according to GTM Research. Growth was driven by utility-scale installation, but even the less volatile residential market grew 62% as leasing programs from companies such as SunPower (NASDAQ: SPWR ) and SolarCity (NASDAQ: SCTY ) spread like wildfire.
The largest federal solar subsidy....
http://www.fool.com/investing/general/2013/05/14/like-it-or-not-solar-energy-is-here-to-stay.aspx
demwing
(16,916 posts)Oil execs, vampires, and Republicans (was that redundant? )?
--who shall remain nameless--refer to solar as a waste of resources compared to nuclear.
rightsideout
(978 posts)I'm typing this message from electricity produced from solar on my rooftop. Free energy! OK, it's not exactly free. The system costs a little money.
But the energy source is FREE. You don't have to mine it, drill it, pump it, refine it or fight over it.
And I get paid for referrals. I've already referred two people already who now have solar and saving money.
My last electric bill was just $2.00! OK, it was really $9.50. $7.50 of that was the utility fee everyone in our utility has to pay. But we only used $2.00 of grid supplied electricity for last month!
So, how can you not like solar?
GeorgeGist
(25,323 posts)It's only been the major source of energy in our solar system for > 4.5 Billion years.