If you think solar power is just a trend, think again. Billionaire Warren Buffet is getting serious about solar power. Buffet’s holding company, Berkshire Hathaway, has just started planting the world’s largest array of solar panels in Southern California. The project is a partnership between Berkshire Hathaway’s MidAmerican Solar and the SunPower Corporation. The project will cover two locations, totaling 3,230 acres, with solar panels.
In recent years there has been a dramatic drop cost of solar power generation. The cost of solar panels manufactured in China has dropped by half in recent years. In the United States, solar installations have increased by 79%. The trend that recently started in California of turning homes solar power plants, is sweeping the state. Whole neighborhoods can be seen turning their roofs into fields of energy grabbing solar panels. Even local schools are beginning to make solar investments, supplementing their school budget with this amazing new resource.
Publicly traded manufacturers and installers are becoming more attractive as solar investments. For many investors, the fact that Warren Buffet has jumped into the industry validates the industry. Buffet is known for buying companies that he understands and believes he can make money on. It appears that solar is one investment he is willing to bet on in a big way.
Buffet is betting big time on renewable energy. He sees wind and solar power as good, long-term investments. Many investors follow Warren Buffet’s activity in their trading and investment practices. While solar investments may still be a new and volatile field, home solar energy is becoming a way in which many homeowners can still benefit from the changes in technology. Homeowners in Southern California today can select from many solar companies and even have financing options that will help to manage the cost of the solar panels and installation.
Whether an individual investor is making solar investments in the stock market or is adding panels to their own home, this renewable resource is set to be a good long-term investment for the country. Gone are the days of wondering if solar energy will ever be a reliable source of energy and give the U.S. a better chance at energy independence. With the rise in the number of installations nationwide, costs will continue to come down and companies will have the incentive to invest in new technology.
We have entered a new era when renewable energy is respectable. When businessmen like Warren Buffet enter into an industry, it gives it a new sense of credibility. Others will follow, and as the industry grows, it will come within reach of more and more people. One day, every new roof will be a solar power plant.