Many countries are looking for the best way to switch to alternative energy sources to move away from fossil fuels in order to stop or at least slow down climate change caused by the release of carbon emissions. Solar power has been around for some time, but in recent years the price of solar energy harvesting technology has come down, making it more and more usable.
For example, the production of electric cars is Tesla IncToday’s core business (NASDAQ: TSLA) and solar power business accounted for 6% of 2019 revenue. But that percentage is growing and keep in mind that the the company expects its solar power segment one day to rival the success of its automotive business. And someday soon, don’t forget that Tesla has reinvented the automotive segment in just 16 years of existence.
Benefits of solar power
Solar energy has many advantages, which makes it a good renewable alternative to fossil fuels. The main advantage is that it is durable with no expiration date like fossil fuels. Then, it has low environmental impact and it does not require any fuel combustion, which keeps greenhouse gas emissions insignificant. Since the Sun is present everywhere in the world, it makes almost everyone a potential energy producer and therefore allows great independence.
Solar energy companies with good market value
There are several solar energy companies currently with good value stocks.
JinkoSolar Holding Co. Ltd. (NYSE: JKS), a Chinese holding company producing solar cells, modules and the like related to solar power, is currently trading at a stock price of just above $ 22. JinkoSolar previously said that it is entering into a partnership with the Shanghai Institute of Space Power Sources, aimed at developing solar cell technology for space use.
Canadian Solar Inc. (NASDAQ: CSIQ) focuses on the design, construction and sale of solar modules for residential, commercial and industrial use. Being one of the largest solar energy companies in the world, it recently launched a share buyback program totaling $ 150 million. The company’s shares are currently trading at a price of $ 21-22.
Photovoltaic solar panels are finding their place everywhere. There are floating versions called floatovoltaics, there are those that can be mixed well with the architecture of the building, and can be placed on roofs, walls or facades, and the like. SunPower Corporation (NASDAQ: SPWR) is one of the companies that design and manufacture silicon photovoltaic cells and similar solar materials. The current share price is just above $ 9. In the last quarter of 2019, the company split its operations between the North American residential and commercial energy services company, which retained the SunPower Corporation name, and the high-efficiency solar panel manufacturing company in Asia, which takes the name of Maxeon. Solar technologies.
The link between solar energy and the automotive industry
More sophisticated solar power may be closer than you think. Experts from Worksport and its parent company International Holding Franchise (OTC: FNHI) are about to launch a new line of tonneau covers. These should be a great accessory for the pickup trucks currently owned, regardless of model, make and year.
And with those tonneau covers connected to the electric motor, truck owners can reap the benefits of solar technology. Worksport tonneau covers are offered by company suppliers but will also be members of Amazon.com, Inc.(NASDAQ: AMZN) as the company recently announced.
Besides the fact that the impact of fossil fuels on the environment is well known, fossil fuels also have an expiration date. We cannot use them indefinitely. So, maybe it is a smart decision not only to start believing, but also to invest more in renewable energy companies, whether they are based on solar, wind or hydroelectric technology. Even with ups and downs in the energy market, have no doubts, this is the future. And renewable energy is pretty much the only future we have.
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