As you’ve read in this blog many times, energy efficiency is a wise investment and should always be the first step toward a clean energy future. If you’ve done what you can to reduce the amount of energy used, it may be time to investigate renewables.
As part of economic recovery efforts, President Obama over the weekend announced the Department of Energy will give $2 billion in funding to two U.S. solar energy companies. The plan is expected to create roughly 3,500 temporary and permanent jobs. But it’s also a generating some new momentum for renewable energy production in the U.S.
The two companies being awarded funding — Abengoa Solar and Abound Solar Manufacturing – will use the money to build solar-power plants and manufacture solar panels, according to news coverage. Abengoa Solar will build one of the world’s largest solar power plants in Arizona and will supply enough solar energy to power 70,000 homes a year.
So what does this all mean for Minnesota businesses?
The federal government’s big investment in solar suggests that solar energy will become more prevalent and (hopefully) more affordable to consumers and businesses in coming years. Already, utility providers including Xcel Energy and Minnesota Power and local governments are offering rebates and other incentives for businesses looking to make the leap to solar. The federal government also provides tax credits of up to 30% the cost of installation to businesses that install solar power systems through 2016.
Have you evaluated the price and payback of solar for your business?
