- Renewable energy demand has seen a further increase on the back of rising utility costs
- Orlando’s Utility Commission recently introduced its third utility price hike of the year and have warned of another potential increase come January 2023
- Meanwhile, solar energy prices have now fallen below those of conventional, fossil-fuel generated energy
- GeoSolar Technologies proprietary home solution provides homeowners with a mix of lower utility costs and energy independence
Speaking at the United Nation’s Climate Change Conference (COP26) last year, Richa Sharma, leader of the Indian delegation stated “The meagre carbon budget is first and foremost the right and entitlement of developing countries” (https://ibn.fm/UMDqX). At the time, Sharma was arguing that developing nations should be given first right towards using carbon-intensive fossil fuels to drive their respective economies in the face of global carbon emission quotas; in fact and only months prior to the meeting, the International Energy Agency had forecast that India’s installed capacity of coal would grow by 80 percent between 2018 and 2040 (https://ibn.fm/GRRx7). A year later, the agency saw fit to revise down that figure to just 10 percent. Renewable energy sources like wind and solar have seen their cost structures decline dramatically in recent years, arriving at cost parity with fossil-fuel powered energy sources in several global markets. The decline in renewable energy costs coupled with the exponential rise in fossil fuel prices have led to a dramatic increase in renewable energy demand, a phenomenon which the likes of climate technology company GeoSolar Technologies (“GST”), are seeking to capitalize on.
Despite their higher upfront costs – it costs an average of $18,000 to install a 6kW grid-tied solar system, solar energy home systems have long posed an attractive investment proposition for homeowners. Solar panels have a usable lifespan of 25 years on longer; homeowners who install solar panels tend to break even within six to ten years due to utility bill savings (https://ibn.fm/dJ6Pc) providing for an attractive…
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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