Solar stocks haven’t been a significant part of the Cabot Green Investor portfolio in 2009–there have been too many other compelling stocks to buy! Subscribers have enjoyed double-digit gains on many companies ranging from Green Mountain Coffee Roasters to Telvent, a Spanish company that focuses on information technologies with Green applications, like water shed monitoring and power supply regulation.
But I am excited about solar returning to its winning ways in 2010.
Why? The potential for solar is too huge to ignore for long.
All together, solar accounts for just two-tenths of one percent of all the electricity used in the U.S. Part of that is because of the high cost. According to Solarbuzz, a research firm, the average price of electricity from a residential solar panel system comes out to about 35 cents a kilowatt hour, still well above the high of 20-cents a kWh some people pay, and well above the average 12-cents kWh in the U.S.
Still, prices for fully professionally installed residential solar systems have dropped about 25% this decade and as much as 50% in some states. The appearance of solar panels in retail stores for DIYers should only push solar closer to true affordability.
Continual advances in technology will help too. Some companies offer panels that appear to perform better in areas with diffuse light common in shorter winter days and areas prone to rain and snowy weather.
Energy Conversion Devices of Michigan makes these types of systems out of stainless steel instead of glass, but alas, not for retrofitting residences like mine. They concentrate on new construction roofs for corporate clients like General Motors.
Other companies promise more exciting developments in coming years. For instance, an Australian company named Dyesol is testing solar cells infused with dye that mimics photosynthesis. Essentially, light strikes the dye, exciting electrons that generate electricity. It offers the possibility of being far cheaper than photovoltaic cells.
But, for me, with the state of technology now and the costs involved, odds are a solar system for my house won’t be on my New Year’s list just yet. For one, it’s an unappealing image Cinnamon offers up, signing my paycheck over to a clerk at the home improvement store, lugging a few 46-pound panels up a ladder and drilling holes in my roof. Maybe it’s easier for now just to cut back on the electricity I use.
Merry Christmas and may the new year continue the bull market.