If you run into an opponent of solar energy and the renewable market, you might hear them say something to the tune of how expensive it is to install solar panels or to upkeep wind turbines.
And you might be tempted to agree. After all, when solar energy was in its infancy, back in the 1950s, the cost was astronomical and unrealistic and far beyond the reach of the average person.
But don't let that deter you from the reality of modern solar energy.
These days, average homeowners could find it well within their means to go solar - with a bonus to boot, thanks to new initiatives rapidly spreading across the country and the globe.
Not only could you be saving money on your electric bill month after month and year after year...
But as I'm about to explain to you, some Americans are already set to receive several thousands of dollars in bonus cash for switching to solar.
And two states are setting that precedent as you read this...
The Expanding Solar Market Down South
You might not think of the Carolinas as hubs of the renewable energy trend, and yet here we are.
In fact, South Carolina has been expanding its renewable energy portfolio substantially - the state ranks number 24 nationwide in solar energy generation.
Not only that, but the Palmetto State ranks as one of the top states in solar employment, with 2,829 solar energy employees.
This growth is largely due to the Distributed Energy Resource Program Act, passed in 2014, which allows the state's electric utility companies to recover expenses incurred to install solar panels.
And South Carolina isn't alone - its brother state to the north is a leader in solar capacity, with 4,411 megawatts (MW) installed and 7,622 employees in the solar sector. It is also ranked second nationwide in solar generation.
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But these facts and figures are what these two states have already incurred.
North Carolina is projected to install 4,577 MW of solar capacity over the next five years, while South Carolina is expected to add more than 1,500 MW of solar energy to its grid in the same period.
The reason for these incredible increases comes down to one company...
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Ramping Up Solar Incentives
For years, solar has been a pretty expensive option for homeowners.
But the tides have turned...
Not only have panel installations become mandated in some states - they're now more affordable than ever.
Better yet, homeowners in North Carolina are actually making money off of them. All thanks to a brand-new initiative... an exciting rebate program for the Tar Heel State valued at $62 million.
This new plan incentivizes households to adopt solar, making this energy source a more viable option for consumers statewide, as residents will be rewarded with up to $6,000 for installing rooftop solar panels on their homes.
But this incentive isn't exclusive to homeowners. They are significant corporate perks as well. Businesses could receive up to $50,000, while nonprofit organizations could get up to $75,000.
How Solar Is Dominating the Energy Market
In addition to these kinds of lucrative initiatives for consumers, innovations in solar energy have slashed the cost of solar technology from over $76 per watt to as low as 2.42 cents per kilowatt hour (kWh). That's a mind-blowing 99.97% reduction in cost.
Beyond the remarkable progress we're seeing in the Carolinas, the United States as a whole ranks as the second most attractive in the world in renewable energy, having installed 2.5 gigawatts (GW) of solar photovoltaic (PV) capacity.
We now have a total of 55.9 GW of total installed capacity in the United States, enough to power 10.7 million American homes.
Total investment into the sector is measured in the hundreds of billions, and we're not looking at small, dinky companies optimistically investing in a fledgling industry.
We're talking companies like Apple Inc., Amazon.com Inc., Target Corp., and FedEx Corp., along with many more Fortune 500 companies pouring money into this sector at an almost unfathomable pace.
We've been seeing billionaires pushing solar and investing their considerable fortunes into the industry.
Based on current estimates, we're looking at a potential $48 trillion pouring into the solar energy market in the coming years alone.
And investors who get in early could very well find themselves among the hundreds of newly minted millionaires who are going to reap the benefits of going solar.
You could be one of them. All you have to do is click here to learn how you could make a killing in this U.S. energy market.
Just tell that to your solar challenger.
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About the Author
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk assessment, and emerging market economic development. He serves as an advisor to many U.S. governors and foreign governments. Kent details his latest global travels in his free Oil & Energy Investor e-letter. He makes specific investment recommendations in his newsletter, the Energy Advantage. For more active investors, he issues shorter-term trades in his Energy Inner Circle.