Thursday, January 31, 2013
Investment in Renewable Energy
In this article, Diane Cardwell focuses on the efforts of renewable energy companies to obtain tax breaks similar to those of fossil fuel companies. Today, renewable energy companies are bringing down the prices of things such as wind turbines and solar panels. A tax break could be the last piece of the puzzle in order for renewable energy to fully compete with fossil fuels. As the articles states however, "the effort (to obtain a tax break) may run aground in the larger tax overhaul that Congress and President Obama are pursuing." So, should the government grant more tax breaks to these renewable energy sources? What effects could this have on the economy?
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I am a big supporter of renewable energy. At some point we are going to run out of fossil fuels. This is why I think the implanting of renewable energy infrastructure and the funding of renewable energy research is extremely important. Finding alternative energy sources is especially important for the U.S because we are so dependent on foreign oil. I think that the tax breaks for these renewable energy companies would be extremely beneficial in the long run, far out weighing any issues they may create for the economy now.
ReplyDeleteMy brother actually works as a civil engineer for a company that builds wind turbine farms, and the demand for these farms has been increasing a high rate. Not only is it a good alternative to other energy sources, but it also can bring jobs to that area. After the wind turbine farms are installed, they have to hire local workers to maintain the turbines after the company leaves to build another farm. I think these tax breaks would definitely benefit us because not only will we conserve our fossil fuels, but we will also bring more jobs to the area.
ReplyDeleteI do believe that these energy renewable jobs are very important to our economy, I also believe that these renewable energy sources are not yet complete in their journey to the final product. There for I am advocating that this tax break they are seeking will be a huge break into the economy and will finally have a huge innovation push on renewable energy, allowing for the economy to expand and be a nice healthy bull once more.
ReplyDeleteI agree with Hannah in that since it is a "newer" industry and still has a lot of growing to do, it is a great way to increase the amount of jobs with more benefits to our economy with increased sustainability. Tax cuts would only aid in the amount of growing they could do.
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