- The U.S. Energy Information Administration reports that solar power is set to dominate new U.S. electricity capacity in 2023
- For many homeowners, solar can offer an opportunity to lower carbon footprint while achieving energy independence and gaining control over soaring energy bills amid rising energy uncertainty and pressing climate crisis
- GeoSolar appears poised to capitalize on this growing momentum as attention shifts toward environmental efficiency and security, and the green technology becomes increasingly cost-effective
As energy prices continue to rise, many homeowners are grappling to regain control over their escalating energy costs while minimizing the environmental impact. Having evolved beyond its niche-market origins, solar power has emerged as an increasingly popular choice for those seeking sustainable and cost-effective solutions. The latest Electricity Market Report 2023 issued by the International Energy Agency (“IEA”) projects that renewable energy, including solar and wind power, together with nuclear, will meet more than 90% of the increase in global demand by 2025. “Governments now need to enable low-emissions sources to grow even faster and drive down emissions so that the world can ensure secure electricity supplies while reaching climate goals,” warns Fatih Birol, the agency’s Executive Director (https://ibn.fm/wAzoB). With solar energy leading the way in new capacity additions, companies like GeoSolar Technologies (“GST”) are well positioned in the economy to reduce its carbon footprint and rush toward a cleaner, more sustainable future.
According to the U.S. Energy Information Administration (“EIA”), solar power is set to dominate new U.S. electricity capacity in 2023, accounting for more than half of new electricity generating capacity. If all planned capacity comes online this year, it will mark the largest annual addition of solar energy capacity in the country’s history and the first time that solar energy outstrips all other forms of energy generation in the U.S. (https://ibn.fm/klF70).
Solar technology has come a long way from its humble beginnings and now offers more options than ever, allowing homeowners to invest in solar power according to their needs, let it be their demand for lower energy costs, enhanced energy independence, or lower environmental impact. But solar has the potential for long-term savings beyond reducing energy bills. The technology is supported by several financial incentives available to homeowners seeking sustainable yet cost-effective solutions. For example, the Federal Solar Tax Credit is designed to help reduce the cost of purchasing a solar system by up to 26%, while state and local governments may also offer tax credits and rebates to homeowners who switch to solar energy. In addition, they can take advantage of various financing options designed specifically for solar systems, such as solar-specific loan programs and leases that allow homeowners to split the costs into manageable monthly payments (https://ibn.fm/oSACB).
GeoSolar, a Colorado-based climate technology company, seeks to power a home that is more environmentally friendly, healthier, and affordable than current carbon-based energy systems. The Company’s proprietary SmartGreen(TM) Home system is designed to enhance solar power with geothermal technology to offer a holistic energy makeover for houses. It uses the abundant supply of natural power from the sun and earth to heat and cool homes with a solution that includes photovoltaic (“PV”) solar panels and a geothermal system that can be enhanced with electric car charging stations, upgraded insulation, air conditioning, filtering, and movement systems.
Run by an international team of solar and geothermal engineers that gathered from three countries—the U.S., Germany, and India—around the shared vision to become part of the dramatic shift in the U.S. energy landscape as the country continues to make strides toward a greener future, GeoSolar appears poised to benefit from the growing momentum as attention shifts toward environmental responsibility and the green technology becomes increasingly cost-effective.
For more information, visit the company’s website at www.GeoSolarPlus.com.
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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