“What do solar panels and the internet have in common?”
Greed caused the dot.com boom and bust of the turn of the millennium. People rushed to invest in a new exciting, technology with only one thing in mind, financial gain.
The fledgeling internet industry when Google was still in its infancy, saw an anticipated return on investment figures, which in hindsight were just too good to be true.
Anything coming across as familiar yet? Greed, it could be said, got in the way of a fantastic idea, but did it?
Just like the internet boom, capitalism’s boom and the fledgling solar panels industry boom.
The concept is a beautiful thing because people are always looking for the next big something and an excellent investment opportunity, so it’s not surprising that new industries get bloated and burst within their earlier years.
Capitalism, with all its problems, has not disappeared. The child of capitalism, “The internet”, has only gone from strength to strength, over the last decade also.
An early internet and an early solar panel industry
Just like the internet, the need for solar panels will never go away, and will only increase, as the need to reduce dependence on costly and ever, more expensive traditional energy sources required.
The solar panel industry is currently going through a phase of dusting itself down, readjustment or realignment after the feed-in tariffs were unlawfully revoked last year by the coalition government. With a combination of mismanagement by the feed-in tariff scheme overseers, who did not reduce the tariff level in line with installation costs, as was initially intended, this caused a flood of rent a roof and free solar panels companies to taking advantage of the situation.
Because of the solar boom, then bust, the solar industry is currently suffering from poor publicity syndrome’ partly caused by the court cases, which have been widely publicised throughout the media and partly because of the reduced incentive scheme?
This situation I find understandable, however, just like the internet, the benefits which come from domestic and commercial solar panels especially as the overall costs of installing, have dropped considerably from the original feed-in tariff scheme was first introduced in 2010.
Just like the internet, many companies will disappear over the next few years, but lots of good companies will continue to grow from strength to strength as the broader public, just like the internet, begin to realise solar technologies long-term benefits.
Energy prices will continue to rise, as will the need to insulate from them, so financial gain will once again drive the future of solar panels over the coming years.
Welcome to the solar panelled century.