The year 2020 has been one of unprecedented uncertainty, filled with anxiety and fear. The world has witnessed how global interconnectedness has made the spread of a major pandemic almost inevitable. In today’s borderless world, health risks have escalated for billions. People, businesses, and goods that once moved freely now face sudden restrictions, disrupting daily life in ways we never imagined. Amid all this, the question on everyone's mind is: How can we continue living as normally as possible? One key factor to consider is access to reliable power.
**The sustainable business approach**
For years, pollution of air, water, and land has been a growing concern across the globe. The heavy reliance on non-renewable fossil fuels has only worsened the situation. A recent study by Scott Kulp and Benjamin Strauss highlights how climate change is reshaping our planet. Coastal cities like Mumbai and Kolkata are particularly vulnerable, facing devastating consequences such as rising sea levels.
But the pandemic has also brought environmental sustainability into sharp focus. More people and companies are now realizing the importance of adopting eco-friendly practices. This makes it an ideal moment to transition from traditional energy sources to solar power—clean, renewable, and increasingly affordable.
**Why go solar during this crisis?**
Even in normal times, people don’t delay essential purchases. For example, who waits for the next smartphone model when they need a new one right away? But these are not normal times. With so much uncertainty, many wonder why invest in solar power now.
To understand, we need to look at the bigger picture. The world is currently facing both supply chain disruptions and declining demand. Many industries are struggling, and the economic outlook remains unclear. Will recovery be fast, or are we heading into a recession?
According to McKinsey, there are several possible scenarios. Optimistically, the virus may be controlled, and severe economic damage could be avoided. However, outcomes will vary by country. Most projections point to either a V-shaped or U-shaped recovery.
There are also more extreme possibilities. A prolonged "black swan" event could lead to long-term economic damage if the virus spreads for another year. Combined with weak policy responses, this could result in a slow L- or W-shaped recovery.
With cases surging in Europe and the U.S., these worst-case scenarios cannot be ignored. A vaccine may take 12–18 months to roll out, leaving us in limbo for some time.
**This is the right time to go solar**
Given the current uncertainty, choosing where to invest is more important than ever. Many traditional investments carry high risk due to unpredictable cash flows. But solar power offers a stable and profitable return.
Another factor to consider is currency fluctuations. Globally, many currencies are losing value. Even though the U.S. dollar is strengthening, import costs are expected to rise. Solar panels, largely imported from China, are priced in dollars, so prices won’t drop soon.
**India is ready for solar power**
India has reached a turning point. Grid electricity is now more expensive per unit than solar power. A 2019 report highlighted this shift, showing that solar is becoming the most cost-effective option.
India already leads in low-cost solar production, according to the Economic Times. This is due to factors like low labor costs. Solar installation is labor-intensive, but only 20–30% requires skilled workers. In today’s job market, semi-skilled labor is in surplus, making solar projects even more viable.
In conclusion, now is the perfect time to make the switch to solar. Whether for your home or business, going solar ensures energy independence and long-term savings. Visit a trusted provider like Genus to explore reliable and cost-effective solar solutions today.
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