The world is constantly changing, and it has been especially noticeable recently. From global health crisis including a pandemic to overseas conflicts, to rising costs and shifting markets and natural disasters — it is near impossible to predict what will happen next. No matter the changes, however, people have adapted. Working remotely was heavily implemented to combat the spread of COVID-19, humanitarian organizations step-up in the face of hurricanes, and legislation like the Inflation Reduction Act (IRA) were put into place to help stabilize the economy. With these adaptations, we learn how to better prepare for the unexpected.
While there may not be a one-size-fits-all precaution enacted to help society become more prepared, there is one resource that remains strong and stable in the face of all this adversity: solar energy.
Economic Security
Instability in any form can be anxiety inducing, but financial instability may be one of the worst to experience. The United States’ economy has been in a period of inflation, increasing prices of almost every basic need: gasoline, housing, and food. The average cost of living has been on its own uptick for over a decade, increasing by 4.6% in 2022 and expected to increase another 2.8% by 2023.1
The top five oil companies have brought in more than $35 billion in profits in the first quarter of 2022, tripling their profits from the first quarter of 2021.2
Residential electricity prices rose 15% in 2012 (11.88 cents/kWh) to 2021 (13.72 cents/kWh) and have already increased 8.4% more in 2022 (14.88 cents/kWh).3 These numbers will likely continue climbing.
Meanwhile, the solar energy industry has grown rapidly, maintaining its status as the fastest-growing renewable energy industry. Costs have decreased every year, reducing by over 50% within the last decade. When it comes to the cost of living and especially energy costs, solar energy is a secure investment with an increasing ROI as the years pass and costs continue to rise.
Defense Against Disaster
Hurricane season in the United States typically lasts from June to the end of November, usually along the Atlantic and Gulf coasts. The United States has seen astounding damage from these relentless storms, some of the more recent offenders being hurricane Katrina, Maria, and Ian.
This October, Ian left about 2.6 million utility customers in Florida without power4, hitting Fort Myers particularly hard. However, Babcock Ranch was left mostly unharmed – the entire Fort Myers community is powered through solar energy.5 The community of 50,000 residents and 20,000 homes was able to recover from the storm without the loss of electricity.6
This was not only a testament to the durability of the solar panels and systems installed, but also to the reliability of solar power, even in 155 mph winds.
Energy Independence
After Russia invaded Ukraine, the energy trade with Russia became a nonviable option for the United States of America, but the US relies on Russia for roughly 8% of imports.7 For the majority of European countries, however, 45% of the continent’s energy resources were imported from Russia, and new methods of energy production were quickly necessary. Of the 27 nations, 19 broke their previous records for solar and wind energy production.
Poland, for example, has relied on coal for the majority of their energy production, but saw a 48.5% increase in renewable energy production through solar and wind.8
Renewable energy resources are growing quickly because they are consistently reliable. European countries have switched to a heavy reliance on solar power are no longer at the mercy of unstable politics or import issues arising when their trade partners are no longer available or reliable.
The United States has relied heavily on foreign countries for oil and petroleum imports, which could potentially become problematic if conflict emerges. Energy independence is an important part of national security and can prevent future conflicts over nonrenewable energy resources. Solar power is a simple way to move towards this goal.
Blue Raven Solar Promotes Energy Independence and Security
Collectively, we never know what is going to change in the world, but solar owners can rely on the power of the sun and the energy it can provide with the proper technology. Solar energy will always be there, powering the world. Blue Raven Solar can attest to the true necessity of renewable energy resources. We have seen homeowners’ lives become better. Energy independence removes a large amount of insecurity in the face of change.
Discover how solar energy can benefit you today.
Footnotes:
[1]: https://www.ssa.gov/cola/
[2]: https://accountable.us/report-oil-giants-post-eye-popping-205-billion-record-profits/
[3]: https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_03
[5]: https://www.solarpowerworldonline.com/2022/10/florida-solar-arrays-survive-hurricane-ian/
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