Hopefully, during the summer you have been able to spend time outside and enjoy the sunshine. The sunshine is also a hope for the future as more and more solar panels are being put on buildings and homes to generate electricity.
In an article by Nichola Groom of Reuters, the Department of Energy projects that solar could supply more than 40% of America’s electricity by 2035 up from 3% at present if Congress adopts policies to make solar more widely used. If the projections happen jobs will be created because it takes people to make and install the panels and connect them to the grid.
With solar, the goal of anyone putting up panels is to compete against the other sources of fuel to generate electricity and over the past 10 years the cost of solar has steadily decreased to be competitive. In states such as California, one of the regulations is for new homes to have solar panels. That can be repeated across the other states as well as companies are installing solar panels to decrease their energy costs. In addition, there are the big solar farms across the sunbelt and with climate change causing warmer weather, the solar panel works well in the northern states.
Linking to dividend paying stocks, one of the best dividend paying stock to own is utilities because they have a semi monopoly which means everyone has to pay into the local utility, there are options but few options. The utilities generate electricity and have changed from coal to oil to natural gas to solar to whatever is the best option for them. With President Biden pushing solar, it means more panels to generate electricity onto the grid and less use of oil and natural gas, but there is still a need. What companies to own is your homework.
There are more questions than answers, till the next time – to raising questions.