Some people are discussing the pros and cons of Bitcoin Investment vs Renewable Energy Investment. A recent focus on Bitcoin investment has taken eyes off a more profitable market: renewable energy. The question that must be asked is why? Why do people invest in something they understand so little about? Particularly why do so when it is obvious that renewable energy investment will almost surely be a big winner? The longer they wait, the more they will have to pay to get into this rapidly growing market.
What is a Cryptocurrency vs. What is Wind Power
Bitcoin has hit $8,000. It has risen by thousands of percent this year, but if you ask people what it is, they won’t be able to answer at least not in specific terms. Even being asked ‘What is a cryptocurrency?’ would flummox many people. If asked how long they would hold on to their Bitcoins, many wouldn’t have a clue what to answer. If asked ‘what is wind power’ they could answer immediately. A currency, particularly a cryptocurrency, can fall just as quickly as it rose, and this will happen to bitcoin one day which may not be too far in the future as fewer people buy them due to their high price. Not so of an energy source! Particularly renewable energy sources, which many people believe to be the energy sources of the future.
Renewable Energy is the Future
Renewable energy will not disappear (that’s why it is referred to as ‘renewable’). Cryptocurrencies will never replace hard cash at least not in this century. There was a time when renewable energy prices rose in line with oil-based sources.
If the oil price increased then so did the price of renewable sources almost en bloc! Why? Because as demand for renewable increased so did its price. Not its cost to generate, but its price to the consumer individual, industrial or business.
Over 7,000% Increase in Solar Power
Not now! Wind and solar power has taken renewable energy use in the US to 14.9% of all energy used in the country in 2016. Back 10 years ago, in 2006, it was only 9.5%. It was not all wind and solar power, but the vast majority was.
During the decade, the volume of renewable electricity from wind power increase from 26.6 TWh to 226.9 TWh an 853% increase. That for solar power rose from 0.508 TWh to 36.75 TWh a 7,234% increase. During the same decade, power from hydro and wood was almost static. The bitcoin investment vs. renewable energy investment dilemma is no longer a dilemma for many people!
Bitcoin Investment vs Renewable Energy Investment
The US invested $44.2 billion in renewable energy last year, the UK £22.2 billion and Japan $36.2, but China’s investment was massive. China invested a whopping $103 billion in renewable energy in 2016 in spite of its massive coal consumption that is blacking out and heating up the world! This is definitely the new ‘best thing’ for investing your money in. It’s a rapidly growing industry.
So in the Bitcoin Investment vs Renewable Energy Investment stakes, renewable energy wins every time. It is on the up, and will ultimately be the only form of energy on the planet, except perhaps for nuclear. Both are developing markets, though one has a more stable future than the other.