Is investment in renewable energy worth it in today’s time? Why Invest In Renewable Energy in the current situation?

You will be surprised to know that there’s never been a better time to invest in renewable
energy.

All of us know how climate change is deteriorating every day and the newspaper headlines are so busy covering the dramatic climate change challenges every week.

Just this morning, there’s new research that has discovered that the World now sees double
the number of 50C days each year than the 1980s and another Global survey has shown how the depth of anxiety that young people feel about climate change, with almost 60% feeling very worried about their future.

Add this in the background of record rising energy costs now at levels not seen since 2008,
smaller energy suppliers collapsing and dying, and the impending release of the cap on
standard energy tariffs from October and we can see a perfect storm brewing, just as India
prepares to take the biggest climate change actions for the global good.

The targets are certainly well-documented globally now – we need to get to Net Zero by 2050.

This target may still seem a long way and sort of unreachable, but change needs to happen fast and maybe some of these dramatic headlines are beginning to drive the shift towards alternative options for businesses and consumers in India to protect themselves from the steepest energy bills in 10 years.

Here are just a few of the key things that are happening in the light of Climate Change to help
people make the right decisions:

1. The cost of installing renewable energy or green energy technology is reducing quickly
2. It is now up to 50% cheaper to generate renewable energy than using fossil fuels. Not to forget how it does not produce harmful gases, so along with reduced bills, there is reduced pollution & increased environmental health.
3. Performance of renewable energy is continually improving with new innovations in the RE industry such as battery storage in a rapidly growing industry. Aesthetically pleasing solar boards etc.
4. Electricity suppliers are introducing agile tariffs to support renewable energy usage at the cheapest rates.
5. Grants and subsidies are still available for businesses and homeowners to benefit from installing renewable energy at their premises. Campaign drives for renewable energy to poor people are in the making.

The Growth of Renewable Energy in 2021

The renewable energy industry is growing rapidly, as consumers and businesses alike learn
more about the huge savings benefits and other environmental health benefits that can be
made, whilst also reducing their carbon footprint and supporting the drive towards net-zero by 2050 and a brighter, greener future for all of us. For example, in the United Kingdom, Solar firms installed 135MW of solar energy capacity in the second quarter of 2021, more than double for the same period in 2020! A similar trend is seen in India. And large commercial rooftop solar energy installations of more than 100kW in size have seen their strongest ever period of sustained growth, supported by a rush of new planning applications that are fuelling the pipeline of installations for the coming year.

So what’s driving this growth increasingly? Aside from the fact that businesses are recognising their responsibilities towards climate change after constant reminders and understanding of making positive changes to the way they do business, the facts are clearly indicating that renewable energy is one of the best investments you can make right now.

Currently, businesses are typically paying heavy prices between 15p and 20p for electricity (but as we all know, that is set to rise significantly). By generating your own renewable energy with solar panels, for example, you reduce the need to buy electricity at ever-increasing prices – that’s already a big win! Not just for businesses but for the world at large.