By: Elithabeth Wire
Green energy in the United States is gaining popularity every year, not only due to the rising demand for eco-friendly power sources but also thanks to government initiatives aimed at reducing carbon footprints.
Solar panel production and installation are particularly promising sectors in this space. To discuss why investing in this industry is a lucrative move, we spoke with Iuliia Merezhko, a founder and CEO of Energy Ray LLC, a solar panel installation company in Florida.
Iuliia Merezhko is originally from Ukraine and she has been living in the United States since 2022. With a Master’s degree in Economics and Finance, she was a prominent figure in Ukraine’s renewable energy sector. In 2018, she founded and led Promin Energo, a solar energy company that still operates today.
Thanks to her deep market insights and unique management strategies, Iuliia quickly elevated her company to compete with industry leaders. In recognition of her contributions to the Ukrainian renewable energy industry, she received the Order of Ivan Mazepa. We had an insightful conversation with this highly qualified expert about what it takes to succeed in the green energy sector in the United States.
Iuliia, you have an impressive professional background in alternative energy. You’re well-known in Ukraine, and now you’ve launched a solar panel company in the U.S.
– Yes, and I’m really encouraged by the strong government support and tax incentives here. The U.S. promotes green energy initiatives aggressively. For example, the federal Investment Tax Credit (ITC) for solar installations helps cover part of the equipment and installation costs. This makes solar energy more accessible to consumers, which, in turn, creates steady demand for companies like ours that install solar panels. In addition to the ITC, many states offer their own tax credits and subsidy programs, making the solar business a safe and profitable investment.
Currently, around 5 million American homes across various states are equipped with solar panels.
– I’m confident those numbers will keep rising, even in regions with more cloudy days. The U.S. solar market is one of the largest and fastest-growing in the world. In 2023, solar energy accounted for about 21% of the nation’s total electricity generation, and the goal is to increase this share as part of the aim for net-zero carbon emissions by 2050. These are ambitious plans, especially since homeowners, businesses, and municipalities are eager to transition to renewable energy. This drives demand and ensures a stable income stream for companies looking to grow in this sector.
But financial gain isn’t the only motivator, right?
– Absolutely. Many companies aim to adopt sustainable business models that support environmental well-being and meet social responsibilities. Transitioning to solar power reduces strain on natural resources and cuts air pollution. This eco-conscious approach appeals to a wide client base, especially among corporate clients focused on enhancing their environmental image. It also creates marketing advantages, allowing companies in the solar energy sector to establish long-term, trusting relationships with socially responsible audiences.
Today, solar panels have become more affordable for consumers. What do you think is driving this?
– The production and installation costs for solar panels in the United States have dropped significantly over the past decade. Technological advances, particularly more efficient photovoltaic cells and streamlined manufacturing processes, have made solar energy economically viable. This allows companies in our sector to offer competitive pricing, attracting both private and corporate clients.
The renewable energy sector not only benefits the environment and the economy but is socially beneficial too.
– There’s an abundance of skilled green energy professionals in the U.S. I’ve had no trouble finding solar panel installers, engineers, designers, and sustainability managers. I’m confident that as we expand, we won’t face a shortage of qualified professionals.
To be blunt: is green energy a profitable industry for entrepreneurs?
– The long-term benefits of solar panels, such as electricity savings and independence from price fluctuations of traditional energy sources, allow companies to earn reliably in this field.
There is also substantial interest from major funds and private investors in financing such projects, which opens up possibilities for rapid expansion and scaling in the renewable energy sector.
Moreover, solar energy is an ever-evolving field. Opportunities for innovation arise daily, from advancements in photovoltaic cells and battery storage to integration with smart grids. Investing in research and development allows companies to stay at the forefront of the industry, maintain high equipment efficiency, and attract more clients.
With supportive government policies and the steady demand from both residential and commercial sectors, I can confidently say that the U.S. renewable energy sector is ideal for those who want to combine profitability with contributing toward a greener and more sustainable future.
Published by Elle G
