Photo courtesy of Pursol Solar
Investors looking for returns outside the traditional stock market and mutual fund offerings may find investment opportunities in solar energy.
The solar industry is growing about 40% per year while government incentives and mandates are strengthening the market for companies focused on supplying alternative energy.
In California, Governor Schwarzenegger recently signed an executive order that requires state utilities to get a third of their power from renewable sources by 2020.
Homeowners and commercial building owners may find that the cost of energy they’re currently paying is already higher than what they would be paying with solar.
There’s also a tax incentive for people looking to place their money in solar energy growth.
Pursol Solar Systems in San Diego may appeal to accredited investors who want to explore profitable companies in the alternative energy industry.
To keep up with its rapid growth, the four year old company is starting construction on both a new manufacturing plant and a power plant in Q1 2010.
Pursol is registered to go public in within 24 months, he said, and the company has had over $ 13 million in residential sales so far this year.
There’s also contracts pending with two casinos totaling $ 18 million as well as with a national hotel chain. The hotels and casinos will be able to write off the cost of converting to solar over a 5-year period and then their energy costs are free.
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