What positions solar to meet the energy demands required for the future?

What makes renewable energy companies want to develop solar? Investors want to finance solar projects that American consumers and businesses want to own, mainly because it’s often the most affordable electricity option.  Most important, it is not subject to the volatility of other energy markets. Recent surveys have found overwhelming bipartisan support to accelerate the transition to a renewable energy economy.  Over 79 percent of Americans from across the political spectrum want the government to prioritize solar over fossil fuels. The new administration has climate change as one of its top three priorities. The U.S. and the global drive to build solar continues to increase while dealing with a worldwide pandemic.

“The difference between a successful person and others is not a lack of strength, a lack of knowledge, but a lack of will.”
Vince Lombardi

When U.S. developers, financial institutions, EPC, and installers were surveyed on their confidence in the renewable sector, even with the backdrop of COVID-19, most expressed a strong sense of optimism. However, solar has dealt with some supply-chain disruptions, including increases in shipping cost by 50% or greater, increased glass cost, and forced labor camps in China involved with wafer production. Although pandemic-related delays, the long-term outlook for renewable energy growth in the U.S. remains positive. Investors and developers reported optimism in the solar energy sector that will continue its growth over the next three years. Financial institutions investing annually $500 million or more responded with the highest confidence level for the sector’s attractiveness and long-term health.

What solar presently needs are policies to respond to the challenges impacting solar development, like this year’s employment growth and years to perform the day-to-day activities. The energy sector requires commonsense measures to reduce carbon from our atmosphere. The federal government can monetize the renewable tax credits by reinitiating a policy that benefits our communities. The world will advance immensely by dropping the import taxes and renewing the solar tax credit, thereby reflecting a reasonable response to the global climate crisis.  We will look to policy reforms, market drivers, and electricity market refinements to fully decarbonize the power sector over the long term.

With an administration committed to renewable solutions, the funding and consideration will be well worth the value. It gives back to our economy and clean air to breathe and protect our environment. We will look to policy reforms, market drivers, and electricity market refinements to fully decarbonize the power sector over the long term. We require active pushing and pulling the federal government to get closer to a new economy where generations benefit from our actions.

Important Note:

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