Tax Subsidies for Solar Power Do Not Work
February 18, 2015 Taxation in USA
WASHINGTON D.C – Taxpayer money is being used to fund solar energy int he USA, but new research shows that the expenditures are not having any significant positive effect.
Taxpayers in the USA provide billions in funding each year to subsidize tax breaks and other allowances for the expansion of solar energy, according to the results of new research completed by the US non-government based organization Taxpayers Protection Alliance.
Over the last five years the government has provided an average of USD 39 billion of financing grants, tax credits, loans and bailouts to businesses in the solar energy industry.
However, despite the large amount of taxpayer funding provided to the industry, solar energy is still more expensive than energy from natural gas and other traditional sources.
Currently it is estimated that solar energy will provide only 0.6 percent of all power generated in the country.
In its report, the Taxpayers Protection Alliance indicated that the only effect that the significant amount of subsidies resulted is skewing the market for energy, while also exposing taxpayers to wasteful spending, while under-delivering on promises to expand the economy and boost job creation.
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