The world is already crippling with the effects of the COVID-19 pandemic, the economies are down by a record percentage, people are out of jobs, businesses have shut down, and the pandemic is not yet completely over. In such a case, there will be a lot of struggle to revive the world economies.

The Fossil fuel industry is seeing a terrible low this year due to the less motor usage from people staying indoors and more dependency on sustainable forms of energy. Solar energy is the need of the hour. The world needs to understand the importance of it.

Solar energy has a negligible amount of carbon emissions which too aren’t because of energy generation but in the process of making solar energy storage and collection devices like Solar panels, Solar heaters, batteries, etc.

With Solar energy, people can save a large amount of money that is spent on paying electricity bills and taxes. A solar setup on the roof might seem to be a heavy investment to some, but the benefits it provides, in the long run, are way more than what needs to be invested.

Solar energy and other forms of renewable energy can play a huge role in the post-COVID-19 economic recovery, let our know-how.

How will Solar energy play a greater role in Covid-19 Economic recovery?

Renewable sources of energy are crucial for Earth. It is high time that people move to better forms of energy because with every passing day of fossil fuel usage, we are harming the environment more and more, and if we continue the same way, it will be in no time that all those post-apocalyptic movies where people had to leave Earth, will start looking real. Some ways in which Solar energy can help in economic recovery are:

Reducing the operating costs

One big boulder in the way of the economic recovery of the business owners are the operating costs, there are many businesses which have good and services to sell, but no money to pay for the costs like electricity bills, rent, and salaries. If a business has pre-existing solar setup then it can completely avoid electricity costs. Investing in getting a new solar setup will also be good instead of struggling to pay electricity bills.

New employment opportunities

The solar energy industries are on a boom in the last few years. Big corporates are now entering the market. Some are producing electric vehicles like scooters, cars, and motorcycles. At the same time, the others are making devices like solar panels, heaters, etc.
These industries are going to create job vacancies in this new era.

Best use of Global green Stimulus

The world is spending like crazy on reversing the effects of climate change. Countries are spending and pledging billions of dollars in favor of the use of renewable sources. The world is currently contributing $11.8 trillion towards this cause, where the top 17 economies contribute around $3.5 trillion. All the G20 economies together contribute around $406 billion, out of which $126 billion are for the support of clean energy. With such large amounts of money, industries can be built using clean energy, and a lot more employment can be provided. India alone contributes $1.3 billion (INR 92 Billion approx.) for cleaner energy.

Low maintenance cost and zero downtime

Solar setups have negligible maintenance costs and very long life. Solar plates need not to clean in a difficult manner. Once in a while, only dust needs to be removed to keep the efficiency up. If you opt for an off-grid solar setup, then the problem of downtime at the central grid won’t trouble you. For an off-grid setup, battery storage is mandatory.

Heavily subsidized

As a part of economic stimulus for cleaner energy, most countries and states are heavily subsidizing the solar setups, so setting up the solar won’t dig a hole that deep in your pocket, and countries are now even offering loans for the setup.

A potential source of income

If you have a big and unused roof/terrace, you can even earn by selling the electricity on an on-grid solar setup. In such a setup, you get to use all the electricity you produce, and if there still remains some, you sell it directly to the government. The settlement of the surplus or deficit is done on a monthly basis.

TL;DR

In this article, we read about how the use of renewable sources of energy can aid in post-pandemic economic recovery. Solar energy is the need of the hour, and the use can save Earth from rotting. The use of solar energy can help in the Economic recovery in the following ways:

Reducing operating costs
New employment opportunities
Best use of Global green stimulus
Low maintenance cost and zero downtime
Heavily subsidized
A potential source of income