Back in the beginning of the 20th century, the US government announced tax credits, subsidies, incentives, you name it, to shore up a young and struggling oil industry that really didn’t have a grip on the market at the time the way coal and wood did.
Nuclear power never did actually take off as people expected; but solar electric power certainly seems to hold all the promise today. Curiously, solar electric power is beginning to take the place of the new magic bullet energy source of the world that petroleum was more than a century ago.And the government is beginning to align itself behind it.
In California for instance, the government has incentives and subsidies in place that let private enterprise build solar installations on school grounds across the state and sell low-cost power to the schools.
Everyone hopes that these incentives will help solar electric power become established as the go-to energy source, and that it will transform the country and also the world the way petroleum did all those decades ago.
In the beginning, photovoltaic technology was only ever used in places so far off, no regular grid power could be brought in. Things only began to really look up for the technology about five years ago so when the Energy Policy Act stepped in to hand out generous tax credits to anyone who was willing to invest in a solar project.
Every solar electric power project in the country that receives subsidies supplies power back to the grid when the installation becomes operational and doesn’t need all that’s being produced locally.
When the tax incentive system was expected to end a couple of years ago, new solar electric power installations abruptly ended too. Now that the system is back on, solar energy seems poised to get back on track.
A megawatt of power produced can help about 200 homes get powered up. And each year in this country, there are about 500 of those megawatts coming online with solar cells doing the heavy lifting.
That’s a lot of homes.
There are so many incentives waiting in the wings for businesses that deal in solar electric power installation, construction or maintenance that they are thousands of businesses coming online each year trying to take advantage of these.
Most of these are tiny businesses with just a handful of employees.Not only do the businesses have incentives to motivate them, they also have the fact that prices fall by a fifth each year.
They benefit at both ends, and it really makes it worth their while. When you look at the long-term costs of dealing with smoky fossil fuels, there’s just no comparing these two at all.
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