As of 2008, coal and oil comprise 77 percent of the energy used for transportation, electricity production, and industrial activity.
The global drive to go green not only helps the environment, but it also can boost the economy. Wind and solar are providing hundreds of thousands of jobs, with solar companies employing as much as 43 percent of the power sector’s workforce in 2016. Among the key ways for sustainable development and green efforts to gain more approval is to enable consumers to directly benefit from renewable energy. More jobs are expected to be created as consumer adoption of renewable energy consumption increases. As a result, the price of renewable energy will become more affordable.
Companies such as American Power and Gas are among those committed to increasing the use of renewable energy by bringing it to US homes and businesses in inexpensive and consumer-friendly ways. The company saw a 466.9 percent revenue growth from 2013 to 2015 with revenue in 2015 at $189.93 million. Since the last decade, the fast-growing company has gone from a few hundred customers to over 4 million energy subscriptions, making American Power and Gas a half a billion dollar company today.
I spoke with Tom Cummins, the CEO of American Power and Gas, to get his thoughts on the impact of renewable energy sources, and his drive to make renewable energy accessible to more Americans.
Q: The world seems committed to shifting to renewable energy. What do you think has triggered this change in mindset?
Q: Has this mindset on renewable energy influenced the US market as well?
Cummins: New research, information and understanding has influenced the minds of the US market and we have seen a dramatic increase on people that are asking for green energy. We are happy to provide all sorts of products coming from renewable sources as it helps society. We believe that this is really our mission, and we are a purpose driven company. We want to change this market from death back to life. From non-renewable energy to renewable energy. It will give us a future. It will give us longevity and because it helps people, our company will continue to expand and together we can save the planet.
Q: The current US administration seems to be scaling back on supporting research on renewable energy. Are you expecting any effects from this new stance?
Cummins: We believe that if the government cuts back from research in renewable energy, a private sector will take responsibility and will forward the research. It is also clear that no matter what anyone says, renewable energy will be the future.
Q: What are the most exciting developments in renewable energy technology and how will these trickle down to consumer-level energy services?
Cummins: There are two areas that we are interested in. One is the improvement in the production and generation of solar energy. The other, is the ability to store this energy. As the ability to produce and store this energy increases, the energy will become cheaper and more efficient. Which is needed to be able to provide renewable energy on a very large scale. In fact, you will only need a very small percentage of the US territory collecting solar energy to produce enough to support the entire United States. For example, with a tiny corner of Nevada we could provide the whole United States with power.
Q: Many still believe that shifting to renewable energy is costly due to upfront costs. Is this still the case today?
Cummins: There are all sorts of financing options that will offer the possibility for a family or business to switch to renewable energy with barely any costs up front. Green energy from wind turbines gets sold on the utility or supplier level. The more people who use green energy, the more the prices go down. It’s really a matter of each individual taking responsibility and switching to green energy.
This material should not be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction. I have no positions in any of the securities mentioned above.