It is no secret that we are on the road to recession. No one is exactly sure when, but many are convinced it will be within the next year. However, once the National Bureau of Economic Research (NBER) announces to the public that we are in recession, we will most likely be in the final stretch (1).
What is the true definition of recession?
Forbes defines recession as “a significant decline in economic activity that lasts for months or years. Experts declare a recession when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time (2).”
The Federal Reserve has been raising interest rates in an effort to ease inflation. In turn, however, the cost of car loans, credit card debt, and mortgage rages have severely increased. These rates do not seem like they are going down for at least another year. Affordability is currently slim in the housing market (3).
Top firms on Wall Street are guiding investors to only invest in stocks that have performed well during previous downturns. They are advising clients to “buy defensive stocks with stable margins, steady cash flow, and solid dividends.” These experts also described the recession as “inevitable (4).”
You may now be wondering, what stocks fall under this category? Well, the answer is is…energy stocks! Experts have named energy stocks as the best-performing market sector this year due to the rise in oil prices and Russian-Ukrainian war. Solar energy is on the rise and is a safe investment (4).
Zillow Research published an article stating that, “During the past year, homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.” Homes with solar in New York sell higher than the national average at 5.4%. Click here to read more about this!
Solar energy is a great investment because after breaking even on your initial investment, you have the potential to save three times as much money as you originally invested into your solar project. Click here to read more about this!
Utility prices are not going down in the near future. Going solar would not only be a smart and safe investment for you financially, but it will also benefit our environment. Go Solar Today!