According to a global consensus by scientists around the globe, renewable energy is the only way to preserve the planet for future generations. While that doesn’t necessarily mean that fossil fuel-based energy is on its way out, green energy solutions are the wave of the future. But between the terminology and buzzwords that get tossed around, you may not actually know all that much about green energy. To set the record straight, here are some awesome facts about green energy that you probably didn’t know.
1. You Can Save Money
Business owners and homeowners stand to save plenty of money by using green energy as their main power source. On top of the 22% tax credit from the federal government on installation, homeowners and business owners can break even in as little as seven years. After 20 years, savings can reach an average of $43,000.
2. Green Energy Provides Roughly 10% of the World’s Power
With emerging technologies and the wider abundance of green energy solutions, renewable energy has grown exponentially in the past few decades. Today, around 10% of the world’s power comes from renewable energy and about 12% of the energy is the U.S. comes from green sources. Solar, hydroelectric, and geothermal power are the greatest contributors.
3. Green Energy Could Power a Substantial Portion of the Planet by 2050
Thanks to the Paris Accord and the lower costs of producing green energy solutions, a large section of the planet could be completely powered by green energy in the near future. According to the International Institute for Applied Systems Analysis, renewable sources could power all of Europe and most of North Africa by 2050 if the trend toward green energy continues.
4. Hawaii Leads the U.S. in Commitments to Green Energy
While every state in the Union has committed, at least in part, to green energy, Hawaii is the emerging leader. While the state’s climate has a lot to do with this commitment, the government is still leaning toward 100% renewable energy sources by 2045. Whether Hawaii is able to achieve this lofty goal remains to be seen, but it’s certainly a step in the right direction.
5. Green Energy Is Set to Become a Profitable Enterprise
Naysayers of green energy point to prohibitive costs as a reason why a full-scale rollout is impossible. However, manufacturing is becoming more cost-efficient and the global push for renewable energy is leading to profitability. According to numerous studies, green energy is set to become a $400 billion industry by the end of 2022.
6. Green Energy Consultants Are a Real Thing
If you own a single business or a national brand, our team at 3 Phase Renewables can help. Green energy can cut costs while preserving the planet far into the future. However, implementing a green energy plan by yourself isn’t nearly as easy. That’s where we can help.
Give us a call to discuss your current plans and we can review all the solutions available for your business.