In a new report issued by the industry journal Energy Policy, the majority of Americans would prefer to use renewable energy at home, if given the option. Said Christine Horne, a researcher from Washington State University who conducted the survey, “Our work shows that U.S. consumers, regardless of political standing, age, or gender, want to use more renewable energy and less fossil fuels.”
Studies like this are the reason emerging companies like Renewable Energy and Power, Inc.(OTC PINK: RBNW) hold such investment promise. The company, based in Las Vegas, NV, provides renewable green energy alternatives and solutions for a safer environment. Their primary focus is LED lighting technologies and solar-hybrid power solutions.
Earlier this year the company retrofit the exterior areas of a California condominium with new LED lighting to replace the existing High Intensity Discharge (HID) lighting. After the retrofit and use of the LED lights, the condominium association reported an 80% decrease in their power bill in the first month of use. The switch to LED lighting also increased the brilliance of the lighting and extended the illumination to previously darkened areas as well, providing the added benefit of exterior security.
Homes and residences across the country – indeed the world – are looking for ways to contribute to the reduction in greenhouse emissions, in addition to saving money on monthly utilities. While actual numbers can vary widely based on location, consumers who have converted to solar power for their homes almost unanimously agree that the cost to install solar panels is rapidly returned by the reduction in their energy bills.
The green trend is also being adopted by malls and shopping centers across the country. Last week Renewable Energy & Power Inc. announced it had been retained by a national dining franchise to retrofit existing lighting systems and replace all bulbs with LED lights. It was noted that the shopping mall company that is home to one of the dining franchises is also in talks with RBNW about conversion to LED for the benefit of cost savings.
Renewable energy as a market is growing rapidly, both in terms of dollars as well as an employment sector. According to the International Renewable Energy Agency, almost 10 million people were employed in the renewable energy sector in 2016. The LED lighting market is projected to double from $30.5 billion in 2016 to over $60 billion by 2020. And the solar energy market, valued at approximately $108.3 billion in 2014, is expected to grow at a CAGR of around 10% between 2015 and 2020, reaching an estimated value of $148 billion by 2020.
RBNW is well positioned to make a significant impact in both the LED and Solar energy markets. They have solid financials and are truly committed to both the environment and their market space. If you want to go green but aren’t in a position to make a capital investment in your infrastructure, now would be an opportune time to consider this emerging powerhouse power company.