Reasons Why Solar Companies Continue to Thrive

Solar companies in Firestone are thriving despite many companies in the energy sector barely surviving the rise in competition and drop in the prices of non-renewable energy commodities like oil, coal, and natural gas. Many reasons exist as to the cause of their good fortune and below are some of them.

Improved Investor Confidence

Statistics show that renewable energy companies attracted a record-breaking $329 billion in 2015, which is nearly six times the size of investments, made in the sector in 2004. These investments allowed the renewable energy companies to increase the level of connectivity for renewables.

The accord arrived at the UN Summit on climate change of 2016 also aided in the boost of investor confidence in solar and other renewable energy companies.

Rise in Government Incentives

The federal government of the US and the state governments have issued attractive incentives to residents and businesses that use solar energy. This has increased the number of installations, and it is proving to be useful in the scaling up of solar companies.

This has affected the companies that deal with natural gas and oil for the production of utilities like electricity.

Public Policy on Climate Change

Renewable sources of energy particularly solar power are proving to be the best way out for countries to abide by the pledges they made in Paris in 2016 as part of the UN climate accord. It means that they will cut on the greenhouse gasses emission produced by the burning of natural gas, oil, and coal.

Statistics associated with solar company Firestone state that power plants in the US should cut greenhouse emissions by up to 32% by the year 2030. This gives the solar companies room to thrive.

Change to Renewable Energy

Major power plants in the USA have committed to long-term plans of generating electricity using cleaner renewable sources among them solar energy by building solar farms that are more economical. With such kind of transition from major power companies, it gives confidence to small and emerging solar companies to be innovative in the provision of solar services.

Government Licensing

Solar companies have the ability to meet the ever-increasing utility demand by the use of solar farms, which take less time to get licensing and approval from the government. This is in contrast to the time required to set up non-renewable companies due to the rigorous and strict government policies before they can get a license to build their boilers and exhaust systems.

Not only does the future appear bright for solar companies in Firestone, but across the country as well as the world. Shedding more light by the government as well as nongovernmental institutions on climate is also one of the prominent determinants in the success of solar companies.