While I’m not a left-winger, I am a huge fan of green technology and have been for a long time. One of the reasons I’m not terrified of some kind of global climate catastrophe like the left-wing are is because the odds are very high that our current exponential rate of technological growth will solve any serious future climate change crises before they happen. One example of this is solar energy. For most of my life, solar energy has been a joke. Even back in the 1980s, I went to a science museum where they had a house powered, sort of, by solar energy. The cost of this house was something like a bazillion dollars and the solar power it gleaned was barely a trickle.
Today, things are little different. The cost of solar energy has gone down 86% since just 2009. In some parts of the US, solar is now actually competitive with coal power and other fossil fuels. Wow.
Solar energy is only about one half of one percent of all the electricity generation in the world, but that doesn’t mean anything to me as an investor. All I care about is the growth in this industry. If it’s half a percent this year and one percent next year, that’s 100% growth. 100% growth in my investments in one year is something I’d be more than happy with.
Take a look at the chart at the very bottom of this page here. Notice the shape of that chart. That kind of exponential “hockey stick” growth in solar is what we’re looking at.
There’s another aspect to this which is cryptocurrency. Electricity is about 60-70% of crypto miners’ expenses. Because of this, a lot of these guys are just buying solar panels, which pay for themselves in a matter of months. It’s near-instant profitability for them to use solar.
Moreover, it’s likely that ever-growing governments all over the world are going to force crypto miners to use solar because of their “strain on the grid” or something. Politically and economically, this is a terrible idea, particularly if you’re a libertarian like me. But as I’ve always said, if the West is going to destroy itself, you might as well make some money from it. Imagine what will happen to solar investments when the government forces all these crypto miners to start using solar panels. It will spike upwards again.
As always, I’m not an investment advisor and I can’t tell you exactly what to invest in, but I can tell you that some of my money is in solar, and I expect to make a lot of money from these investments over the next ten years.
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