SOLAR POWER AS AN INVESTMENT

solar power

Solar power is, in simple words, the conversion of sunlight into electricity. The concept of solar powers systems, installation of solar panels and dependency on solar energy is not something new. Researchers, scientists, activists, students through their science projects, solar power companies and many others have been talking about it for years. However, the world still depends on conventional fossil fuel burning, well, most of it. In his piece, we have discussed why solar energy isn’t an option anymore but has become the need for this world. 

1) GLOBAL SHORTAGE OF PROCESSOR CHIPS

Currently, our world is facing a shortage of microprocessor chips. Nowadays, these chips have become an integral part of the production of several items. Moreover, the Internet of things (IoT) has introduced the induction of these chips in electrical home appliances. Now due to this shortage, the prices of these appliances are rising at a fast rate. As a result, a lot of power is being consumed to meet the demand and supply. It is therefore anticipated that we might face a global power shortage in coming years. Densely populated countries like India, China and Pakistan are already facing the aftermaths of this shortage in the form of power cutoffs, load shedding etc. Conclusively, the adoption of solar power can solve the power shortage and cutoffs problem. Moreover, it will release the load of increased consumption and will help in economic aspects.

2) A WORTHY INVESTMENT

If you have a solar panel installed on your rooftop, you are an investor! What is an investment? Something that has a chance of returns and increases your worth. It is something that increases your saving. Well, solar power adoption can do this for you. The installation itself is not very costly, and the best part is its overall usage. Since you are directly dependent on natural sunlight, you don’t have to pay expensive bills every month. In this way, you save more and can use those savings in other ventures. Isn’t it a worthy investment?

3) GLOBAL ACCEPTANCE

Since 2020, there has been a considerable increase in solar energy consumers. Therefore, solar energy should be readily adopted, especially by the countries present near the equator, because of uninterrupted sunlight at most times of the year. For example, China has installed around 254,355 MW of solar capacity. USA follows China with the power of 75,527 MW, followed by Japan (67,000) and Germany (53,783).

4) ENVIRONMENTAL AND GOVERNMENTAL POLICIES

The most vital solar energy advantage is that it is environmentally friendly—no burning of fossil fuels, no usage of complex high-power machinery, and wastage. If most of the world population adopts solar power, it can solve climate problems to a greater extent. Pakistan is one of the countries that are subject to climate change and global warming. Prime Minister Imran Khan has the vision to eliminate fossil fuel burning to produce electricity by 2030. He aims of using other sources to produce electricity. Well, why not solar energy?

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