Renewable energy is a trend that has picked up speed over the past decades. More entrepreneurs are looking to invest in sustainable energy because it is so popular and more available than before. Consumer demand is high. If you’re interested in investing in renewable energy, here are some tips.

Make Sure To Check Environmental Claims

Greenwashing is when organizations make claims about sustainable energy but it’s misleading or unsubstantiated. Just recently, a popular laundry detergent got in hot water for misleading consumers about its “plant-based clean.” Do your research about any renewable energy claims that are made when you’re investing. Is the investment really sustainable or is it still relying on oil and gas?

Renewable Energy Returns Can Be Impacted by Government Regulations

Although there are many tax breaks for sustainable energy investments, there are also many changes in government each year. Don’t assume that the tax credits you get initially will continue in the future. There may be ups and downs in the market that haven’t been predicted.

Focus on Opportunity

The renewable energy industry is wide open. Don’t think that you need to invent a new project. You could get in on the ground floor by providing maintenance or installation for renewable energy products. Consulting is another opportunity. Look beyond the consumer. Think about supply, government, and businesses.

Do Your Research

Create a business plan that outlines your idea for investing in renewable energy. Do market research. Talk to potential customers. Learn your competition. Find your opportunity where you can have the most impact. Seek out financing opportunities, angel investors or venture capitalists, for example who have built their resources around sustainable energy.

Make the world a better place by helping others reduce their carbon footprint. Renewable energy is a trend that is here to stay. Contact Increase Lending for funding options for your business.