Full Title: Assessment of Incentives and Employment Impacts of Solar Industry Deployment
Author(s): David P. Vogt, Susan M. Schexnayder, Tom N. Yoder, Edward J. Lapsa, and Alexandra T. Brewer
Publisher(s): Securing America's Future Energy
Publication Date: May 1, 2012
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Description (excerpt):
A mixed portfolio of energy options has allowed Americans to enjoy long-term economic growth and prosperity. The federal government has engaged directly in developing each energy resource in the mix, although the dollar value estimates of this federal support vary considerably. In this report, we focus on a relatively new addition to the energy portfolio— solar power. This assessment considers the diffusion of solar energy technology in the United States in the context of the technology adoption process and federal engagement in developing energy options. We examine historical and current federal incentives in energy markets, focusing on incentives along the energy value chain and by stage of technology adoption. Considering the growth expectations for the domestic and international solar markets, we analyze the solar industry’s U.S. job creation and solar power’s potential contribution to addressing peak-demand period power needs and other benefits to the energy portfolio. We find that solar energy is following the same incentive-driven path as other traditional energy sources before it, consistent with the government’s decision to incentivize energy production for a variety of policy purposes. We also conclude that the federal investment in solar energy could bring about a number of tangible benefits, including increased employment, global business opportunities, and energy supply diversity.