Opinion: Can solar investment help farmers survive the Central Valley water crises?
Agricultural businesses are under growing economic pressures as drought conditions worsen and inflation continues to climb. Rising energy costs have been a particularly damaging repercussion of the drought, with farmers spending more on electricity in order to keep wells and irrigation systems pumping water to their crops. California agriculture lost $1.1 billion in 2021 as a direct result of water shortages, and the Central Valley alone sat on roughly 385,000 acres of idle land. Unfortunately, intensifying climate change makes this year’s outlook just as grim. … Saving money on energy bills has made solar more attractive than ever, especially now considering the new Inflation Reduction Act offering additional benefits to renewable energy.
-Written by David Field, co-managing partner and co-founder of solar finance and development platform Luminia.