The price of the First Solar Inc shares has gone down, a lot. You don’t need to know much about investments to understand that -44,56% doesn’t look very good.Some people save for a house or a car. As a student, I’m lucky to be able to save at all and it will be a while before I have saved enough for a house or an electric car, so I though investing in renewables would be best for some of my savings right now. If I would sell the shares I bought today, I would have lost almost half of what I invested.
Is this bad? No, it’s actually great news! For my personal finances perhaps yes, it is bad, but the investment made wasn’t too big, so I’ll survive. For the rest of the world, the answer is no, it is not bad at all! First Solar is an American company and the reason they do poorly is not that demand for solar power has decreased, on the contrary. Demand is on the rise, because globally prices for solar panels keep getting lower and lower! Prices have decreased by 30% just this year!
The mistake I did, was choosing to invest in the wrong solar company, the one who sells solar panels at ‘the old’ more expensive prices. Additionally, Trump became president which could be catastrophic for American solar cell companies. However, since the technology has improved so much solar power isn’t necessary dependent on any political subsidies. Go home Trump, you can’t fight the power of the market in America!
I don’t regret investing in American solar power, I want to contribute to showing the Americans that the market wants clean energy. Solar might be a risky investment but if you want to contribute to a better world, I recommend it anyways. I see it as donating to charity with the possibility of winning more money! This isn’t the most conventional investment strategy, but I generally think no-one should make any investments without considering moral implications. That money does better things to the world like this, than at a savings account or spent on travelling.
I have not only invested in solar shares, I’m a consumer too. I buy solar-electricity from the Helsinki energy company Helen. Almost 20% of the energy I used in the past year, has been from solar power. Remember, this is in one of the northernmost cities in the world!! That truly shows the possibilities solar power has globally. If you live in Helsinki, get solar electricity for your house or flat here. If you live elsewhere, use new eco-friendly search engine Ecosia too look up solar power-plants in your region.
The globally lower prices of solar power is so great news that I can’t even be sad over my loss! In fact, the payback time for the best solar panels in sunny locations is as low as 2 years! Price competitive, clean energy: finally you are here! I’ve been waiting for you!