Going Electric 💡
The health of our planet earth has been at the forefront of international concern for quite some time now. With this, there have been many new regulations surrounding our business practices and in our regular, everyday lives. Is it true that we’ve been making progress?
According to the International Energy Agency, global renewable electricity installation will reach a record this year. In their report, it was said that 90% of new electricity generation in 2020 will be renewable and only 10% powered by gas and coal.
If you take a step back and analyze this massive change, it seems like efforts towards going green have been ramped up and may even take coal off its course as being the main energy source on our earth. They say that in 5 years’ time, if the expansion continues at the same pace, renewables will displace coal as the main energy source and will supply one-third of the world’s energy.
Many companies that focus on renewable energy have seen a bump in share value this year and have generally outperformed the market as a whole. For example, solar companies like First Solar Inc. and SolarEdge Technologies Inc. have nearly doubled since the end of last year.
Will this push towards renewables really put the earth back on track?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.