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Solar Energy Incentives

Decent Essays
Subject: Financial Incentives to Expand Solar Power Adoption in the United States

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The lack of a nationwide solar power policy, alongside significant technical hurdles, hinders the progress of renewable energy across the United States of America. Strengthen national policies by introducing financial incentives for research, development, and manufacturing that tackle technical challenges to the growth of renewable energy. Incentives such as tax breaks, low interest rate loans, and grants will allow the renewable energy sector to implement cost-effective solutions and be and competitive against traditional energy sources.

Issues
The U.S. Department of Energy should implement a federal renewable energy policy of
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In addition, expanding the solar energy industry will spur job growth. Consumers want to adopt solar energy because its price is less vulnerable than many other energy sources, like petroleum, to global politics. Limited solar energy storage technologies present the main technical challenge of solar. Current battery capacities are inadequate to store captured solar energy. Moreover, seasonal variability in solar radiation and power demand peaks require the provision of adequate storage to make solar power a practical, large-scale energy source. It is also difficult to connect solar energy to the current grids in America. The regulatory challenges involve governing access to the power grid, creating and implementing legal structures for local ownership, and protecting local owners against larger utility companies concerned with their market share.

By focusing on grid parity and technical challenges through financial incentives, the United States will increase its usage of and benefits derived from solar energy usage. The financial incentives support both consumers and suppliers to adopt and develop solar energy. If the new solar energy supplies cost the same or less than previous energy because of these incentives - achieving grid parity - then consumers will have fewer reasons not to switch to solar energy. If suppliers can provide the
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