By CEO Erwin Spolders
Right now, we are right in middle of the perfect storm for solar power. Five key factors are converging to create the ideal environment for businesses to transition to solar energy, thereby accelerating job creation, economic growth and energy security. Find out what factors create this perfect storm and why you should act right now:
1) Cost Advantage – Solar makes great business sense. It is cost-effective; transitioning to solar enables businesses to make 20% savings in overall electricity bills. Additionally, with a lease-to-own deal, businesses will own the solar farm at the end of the contract.
2) Availability – Sunshine is one of Ghana’s most abundant resources. However, Ghana uses less than 0.1% of the country’s solar power potential. Due to Ghana’s auspicious geographic location around the equatorial sun-belt, Ghana could produce 10 times its current electricity need if all available solar energy resources were used.
3) Affordability – The price of solar panels has been falling steadily over the past few decades, making solar power increasingly affordable. Experts at Bloomberg New Energy Finance (BNEF) calculate that the cost of solar energy has decreased by 77% since 2009.
4) Clean Energy – Businesses can reduce their carbon emissions by switching to clean energy like solar. Carbon reduction supports the climate goals of the Paris Agreement, and affordable and clean energy is one of the United Nation’s Sustainable Development Goals. The transition to clean energy will slow down climate change, positively impacting the environment, hunger, and development.
5) Governmental Support- Currently, only 1% of Ghana’s energy comes from solar power, but the President of Ghana, Nana Addo Dankwa Akufo-Addo, has pledged his commitment to increasing Ghana’s contribution of solar power to 10% by 2020. To achieve such a rapid increase, the government will need to support solar energy on both a public and private scale, forging a supportive environment for businesses to transition to solar.
With all of these factors converging in favor of solar, now is the perfect time to make the transition. This perfect storm has arrived with the opportunity for you to switch your business to affordable, renewable energy, so act right now!