U.S. presidents through the years all had very different ideas about the energy industry.
In 1979, President Jimmy Carter spearheaded what would become a renewable revolution, and placed 32 solar panels on the White House roof, amid a national energy crisis caused by the Arab oil embargo.
He was the first president to do so, and the first to take renewable energy seriously as a form of reliable and efficient energy consumption.
In the words of the President, “In the year 2000 this solar water heater behind me, which is being dedicated today, will still be here supplying cheap, efficient energy… A generation from now, this solar heater… can be just a small part of one of the greatest and most exciting adventures ever undertaken by the American people.”
However, in 1981, President Reagan, who had very different ideas of how energy should be collected, ordered those solar panels removed. In fact, that was one of the first things he did upon taking office. Apparently, he considered them “a joke.”
Half of the original 32 panels were moved to Unity College in Maine in 1992 to be used to heat water.
And in 2010, President Obama, who was a well-known advocate of renewable energy, ordered solar panels reinstalled at the White House.
Now, as longtime Oil & Energy Investor readers will know, I’m fully on board with expanding the U.S.’s hold on renewable energy.
The Fastest Growing Energy Resource
International Energy Agency (IEA) president, Dr. Fatih Birol, stated in 2017 that “what we are witnessing is the birth of a new era in solar photovoltaics [PV]. We expect that solar PV capacity growth will be higher than any other renewable technology up to 2022.”
She’s right, too.
The growth of solar energy is being seen all over the world, and is one of the fastest-growing sectors in energy.
This year, Asia claimed the top spot as the fastest-growing region in solar consumption, claiming nearly 75% of global solar installations.
The United States comes in at a close second.
And there’s one prevailing reason we’re seeing such an increase in solar use.
It all comes down to what runs the world.
It Would Win the Energy Popularity Contest
The cost of installing solar power when it first emerged during its infancy was through the roof. Nobody, with few exceptions, could afford it.
At the time, it didn’t offer a viable alternative to oil, gas, or coal.
Even as improvements were made over time, harvesting energy from our nearest star was much more expensive than fossil fuels – roughly 110 times the cost of oil, gas, and coal.
In 1977, two years before President Carter inaugurated solar panels at the White House, the cost per watt of solar energy was a whopping $77.
Through the years, however, the cost per watt plunged.
As of August 2018, the cost per watt of solar energy is 13 cents.
That’s a near 100% drop.
It makes solar energy one of the cheapest sources we have, and our solar consumption is growing accordingly.
This downward trend is continuing.
Now, you might be asking how this happened.
As with all things energy related, there are many factors involved with decreasing the price of solar energy.
However, much of the reduction in cost can be attributed to one company.
See, this company, while at a current market cap of a small $359 million, has a patented solar technology. Energy bigwigs could soon be knocking down their door to get their hands on it.
They’ve locked down deals with the biggest energy users on the planet, including the oil-rich Saudi Arabia.
The potential growth I’m expecting to see from this company is to the tune of an 80,000% revenue surge.
Early investors could find themselves in possession of a fortune.
And if you’d like to learn how to become rich, and become part of an energy revolution, just click here.
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