“There is a huge opportunity before us – a global clean energy market that is already worth an estimated $240 billion and is growing rapidly,’’ Steven Chu, the United States energy secretary, said in remarks prepared for an energy conference on Thursday organized by The Washington Post.
“Last year, China offered roughly $30 billion in government financing to its solar companies,’’ Dr. Chu said. “At least 10 countries have adopted renewable electricity standards, and more than 50 countries offer some type of public financing for clean energy projects.”
“America faces a choice today: Are we going to recognize the opportunity and compete in the clean energy race, or will we wave the white flag and watch all of these jobs go to China, Korea, Germany and other countries?” he said.
Solar power is a great financial investment.
Solar costs less than you think, saves money every month AND provides a solid return on your investment.
Prices have really dropped. Compared to just two years ago, solar panels produce about 50% more power for the same price. A 1,000 watt starter system can now be purchased for as little as $3,000. Plus you could knock up to 50% off that price with tax credit and rebates.
You can save money every month by reducing or eliminating the household electric bill. If you spend $200 each month on electricity, that means you could save up to $2,400 every year. In just ten years, you could save more than $25,000. Since solar panels last 25 years or more, the lifetime savings are even greater!
A smart long-term investment. Let’s say you have $25,000 in a checking, CD or money market account. You might be lucky and earn $250 per year on that investment, before taxes.
Instead, put that $25,000 to work and install a solar panel system. You’re now earning a return of up to $2,400 per year by turning that utility expense into a money saving asset. That extra savings income is completely TAX FREE! This means you are likely to earn a 10% or higher return on your investment for more than 25 years.
And last, let’s not forget that solar power is CLEAN power. So your kids and grand-kids will finally think you are cool 🙂