Economic Development News & Insight


3 Ways Solar Power Stimulates Economic Development

/ September 23, 2015


3 Ways Solar Power Stimulates Economic Development


Since Al Gore produced the movie An Inconvenient Truth, tons of Americans, as well as folks around the world, have taken notice on the dire situation of our planet. Glaciers are melting, seasons are getting shorter, and ocean levels and temperatures are rising. This is why many people have begun to lessen their carbon footprints by biking to work, recycling, and changing over to solar energy power – one American home or business every four minutes, to be exact.

Solar energy is energy harnessed from the heat of the sun and converted into electricity that can heat, cool, and power your house. In addition to helping the planet stay green, solar energy can keep a little green in the global economy as well. Here are three ways solar energy helps to boost economic development.

Lessens the Cost of Utility Bills

Power and utility bills can be a huge expense. The cost of heating and cooling your home to stay comfortable takes up a large chunk of change that you could spend in other areas of your life.

Since solar energy is a form of natural energy, it is a lot more affordable than using fossil fuels to power your home. You can use that saved money for things such as groceries, home repair, and even treats for yourself – putting money back into the economy and helping it grow.

Keeping It Local

Solar power keeps it local and can create more jobs, helping Main Street instead of Wall Street, because it can be developed locally. The demand for solar energy means that more materials will be needed to manufacture, distribute, and install solar panels onto houses and businesses. This spurs the need for jobs, creating more employment opportunities for local residents.

Additionally, importing fossil fuels for power needs adds up to significant amounts that the local economy will lose.

Energy Independence

Since the sun’s energy can be yoked anywhere in the world, it belongs to no one. The sun cannot be taxed, and prices for solar energy will never fluctuate, even during economic turmoil. This helps us to move toward energy independence when we embrace solar power.

As you can see, solar energy, and other forms of natural power, can help stimulate economic development, on both a local and global level. By helping people save money and creating more jobs to giving us energy independence, the benefits of using solar power are endless.

If you haven’t decided to go solar yet, you should think about it. The earth is our only home, and helping it stay green (while making the economy flourish) is our only hope for a brighter and better future for our grandchildren.

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