Many countries are looking for the best way to switch to alternative sources of energy to move away from fossil fuels in order to stop or at least slow down the climate change caused by the release of carbon emissions. Solar energy has been around for some time, but in recent years the price of technology for solar energy harvest has been declining, making it more and more usable.
For example, electric car production is Tesla Inc's core business today (NASDAQ: TSLA) and solar power business participated with 6% in 2019 revenues. But that percentage is growing, and keep in mind that the company expects its solar energy segment to rival its car business success one day. And someday soon – just remember that Tesla reinvented the auto segment in only 16 years of its existence.
Benefits Of Solar Energy
There are many benefits of solar energy, which make it a good renewable alternative to fossil fuels. The main advantage is that it is sustainable, with no expiration date like fossil fuels. Next, it has a low environmental impact and it does not require any fuel combustion keeping the greenhouse gas emissions insignificant. Since the Sun is present across the world, it is making almost everyone a potential energy producer and therefore, allowing a great level of independence.
Solar Energy Companies With Good Stock Value
There are several solar energy companies with currently good value stock.
JinkoSolar Holding Co. Ltd. (NYSE: JKS), a Chinese holding company producing solar cells, modules and similar related to solar energy, is currently trading at the stock price just above $22. JinkoSolar previously stated that it is starting a partnership with Shanghai Institute of Space Power-Sources, aiming to develop the technology of solar cells for space use.
Canadian Solar Inc. (NASDAQ: CSIQ) has a focus on designing, building, and selling solar modules for residential, commercial, and industrial use. Being one of the world's biggest solar power companies, it recently started a share repurchase program in a total amount of $150 million. The company's stock is currently being traded at the price of $21-22.
Photovoltaic solar panels are finding their place everywhere. There are floating versions called floatovoltaics, there are the ones which can be nicely blended with building architecture, and can be placed on roofs, walls or facades, and others. SunPower Corporation (NASDAQ: SPWR) is one of the companies designing and building silicon photovoltaic cells and similar solar materials. The current stock price is just above $9. During the last quarter of 2019, the company divided its business to the North American residential and commercial energy services company, which kept the name SunPower Corporation, and manufacturing company of high-efficiency solar panels in Asia, which is going under the name of Maxeon Solar Technologies.
The Connection Between Solar Energy And The Automotive Industry
More sophisticated solar energy may be closer than you think. Experts from Worksport and its parent company Franchise Holdings International (OTC: FNHI) are about to launch a new line of tonneau covers. These should be a great accessory for currently owned pick-up trucks, matter the model, make and year.
And once these tonneau covers are connected to the electric engine, the truck owners can enjoy the benefits of solar technology. Worksport's tonneau covers are offered through the company's providers but will also be members of Amazon.com, Inc.'s marketplace (NASDAQ: AMZN) as the company recently announced.
Besides the fact that fossil fuels' impact on the environment is well known, fossil fuel also has an expiration date. We cannot use them forever. So, maybe it is a smart decision to not only start believing but also investing more in renewable energy companies, whether they are based on solar, wind or hydroelectric technology. Even with ups and downs on the energy market, make no doubt- this is the future. And renewable energy is pretty much the only future we've got.
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