In the not-so-distant past, solar energy on homes was seen to be esoteric, reserved only for those with enough disposable income to finance a small space station. But even then, it was still such a volatile system that you needed to have good days of sun for months on end to even come close getting a usable harvest. But with each passing year, the technology grows and gains a deeper understanding of how to make solar panels both more efficient, and more affordable. And one company that is determined to break new ground in this area, is no other than big oil company, BP.
BP? The one that spilled all that oil? How are they getting involved with solar?
To prove that they believe in the strong future of solar(or maybe to cover up their petroleum faux pas), Oil tycoon BP has financed $200 million to energy company Lightsource. The main goal is to push solar energy across the globe, instead of only the 3 continents it currently operates on. BP smartly was able to maneuver a deal that when all is said and done, the Lightsource energy company will be rebranded as, “Lightsource BP”. Both companies are firing on all cylinder to make low carbon energy viable for more homes and companies in the years to come.
BP hopes to cover their losses from their old campaign, which was to be more than just petroleum. In the early 2000’s, they had a similar campaign with a firm to push into low-carbon, with solar and wind turbine energy being at the front line. However, this proved difficult with where the technology was in that decade. In the 17 years since then, the field has grown exponentially with uses of different types of silicon, maximizing sun tracking, and location vs. angle.
So, is BP giving up all their other endeavors?
Not quite. They will still be dipping into their already well-established markets in oil and wind energy. But this groundbreaking deal is a hope to spark what could potential be a new stream of revenue for Lightsource BP, as well as away for more people to make the switch into sustainable energy.
BP failed before, why are we to believe they won’t fail again?
When the original campaign for “Beyond Petroleum”, was launched in 1997, the company was eager to prove itself to the world and be on the front lines of oil refinery. However, the technology was limited at that time, and they were making big gambles on an industry that was yet to prove profitable. This time around, they’ve learned from their mistakes. BP used to fixate their solar efforts on strictly manufacturing solar panels, while now they are more concerned with global efforts, and will be funneling money into projects to better mankind.
Well, why did Lightsource choose to partner with BP?
Although you’ve probably never heard of the company, Lightsource has been working silently in the shadows to create sustainable energy. They are a global leader in solar, and in a whopping 7 years, have grown to become the top developer and distributor of utility level solar projects. Yeah- they know what they’re doing. While BP operates mainly in North and South America, they are thrilled to be able to team up with a company located across the Atlantic, indefinitely expanding their market and client base. It’s only a matter of time until solar and sustainable energy are standard in the American home.