Through recent studies, Solar Energy is projected to be a dominant form of alternative energy within the next few years. Thanks to a study conducted by BDO on CFO’s within the energy market. Most of these CFO’s, including those from gas and electric companies, are beginning to lean towards renewable energy sources. Solar Power being the top of food chain in this area. Due to the cost of solar energy lowering as materials are more easily attainable. As well as, solar energy being more and more capable through progressive engineering and new innovations. At this rate, within 5 years, solar power will be the most popular form of energy.
Why Solar Energy Now?
When solar energy first began circulating through the energy marketplace, the cost efficiency was nearly inexistent. Renewable energy high way too high of a cost gap between oil and gas. This never allowed for the marketplace for it to explode. However, due to constant demand of renewable energy sources, consumers and investors have been able to sway the energy CFO’s to look a new way for their sources. Although prices on oil and gas are quite low due to economic changes, solar energy is still projected to take the lead in alternative energy. These oil and gas CFO’s almost all agree that they will have some stake in the solar energy game.
What is Holding Solar Energy Back?
Although solar energy prices are dropping and demand is quite high, gas and oil still dominate the energy business. For a long time, the public has been demanding that these energy companies begin to take a renewable energy path to reduce the toxins within the environment. This was at first just a dream. However, with the decreasing prices of solar energy products, this is beginning to look more that possible from an economic standpoint. It will take a little bit longer for some pure cost efficiency to appear, but that should change within the next few years!