There are a lot of market forces driving individual and corporate adoption of renewable energy. While reducing carbon emissions may be the most talked about reason, the other market forces at play are going to seal the deal.
- The price of solar PV cells has dropped by more than 80 percent in the past few decades.
- Wind turbine costs have dropped by half during the same period.
- Coal has been on an almost constant upward cost trajectory for two decades.
- The price of crude oil has almost tripled in the past 15 years.
- Natural gas prices continue to increase.
Virtually no one expects a reversal of these trends.
Renewable Energy, A Disruptive Market Force
Renewable Energy is disrupting the energy market and no one knows where it will end. We believe that energy efficiency contractors who embrace smart energy financing opportunities like those offered by LED.Finance are going to be a significant driver of adoption and innovation over the next decade.
Why do we believe that? Because the evidence backs us up. Here are a few examples.
Technology is advancing rapidly
- AltaRock Energy in Seattle is building new ultra-efficient geothermal plants and retrofitting older ones to improve their efficiency.
- Aquion Energy in Pittsburgh has developed new, affordable Ion batteries that store energy for long-duration applications like providing the daily electric needs of a home or business.
- Comverge in Norcross, GA is saving companies and utilities manage consumption and save money with their smart-grid technology.
- Cree in Durham, North Carolina is improving on the LED light with the inclusion of new sensors and fine-tuned algorithms.
Adoption is growing across sectors
- As of the writing of this article, Salesforce.com, the world’s’ leading CRM provider, and an $8.4 billion, world-wide company had just achieved two carbon neutral milestones. The company itself is operating at a 100 percent carbon neutral rate. It’s cloud computing platform, used by hundreds of thousands of businesses, is also performing at a 100 percent carbon neutral rate.
- In 2015, Intel installed a micro-turbine array on the roof of its worldwide headquarters completed the installation of 18 on-site solar plants at its facilities across the country. They top the EPA Green Power Partnership Top 100 List.
- Target and Walmart are both leading the way in the adoption of solar energy. In 2016 Target installed 147 megawatts of solar capacity. Walmart comes in number nine on the EPA Green Power Partnership Top 100 List.
Every new technology that hits the market opens a new door for energy efficiency contractors and energy efficiency lending.
Renewable Energy Drives Energy Efficiency Financing Opportunities
While renewable energy prices continue to drop, large scale retrofits are still cost-prohibitive at many companies where cash flow is a primary concern. Energy efficiency contractors offering creative renewable energy financing from organizations like LED.Finance are going to break down those barriers. With options including efficiency-as-a-service, rebate financing, and more traditional financing choices, there is a renewable energy financing solution for every business and every project.
If you are an energy efficiency contractor with commercial clients that need a renewable energy retrofit,call LED.Finance. Let’s work together to grow your business. You won’t find a better partner.