Well, that's what President Obama thinks and is proposing even more solar energy initiatives. For example, the President recently announced:
- A "number" of housing developers have pledged to install solar panels.
- His Solar Instructor Training Network will support training programs at community colleges across the U.S. to "assist 50,000 workers to enter the solar industry by 2020."
Thank goodness for thoughtful people--like the Director of Economics21 at the Manhattan Institute, Diana Furchtgott-Roth--who research the other side of the story. Her analysis:
- The U.S. creates 16% of global greenhouse gas emissions. But, that percentage has fallen and continues to fall.
- It costs ~200% more to produce solar energy than natural gas. (To wit: solar PV2 costs $130/megawatt hour and natural gas costs $66/megawatt hour).
- 27% of U.S. electricity is generated from natural gas. If that 27% was generated from solar power, consumers would pay 25% more for their monthly electric bills.
- In May 2013, only 4.1k+ people were employed as solar installers with a median annual wage of $39.6k. In contrast, the Keystone XL pipeline would create an additional 20k direct jobs in an industry that already employs 11M.
Investing in expensive solar energy and training Americans for jobs that do not exist will not stimulate the nation's fragile economy, Furchtgott-Roth asserts. Why? The additional costs incurred means less money available to spend elsewhere in the economy.
Where's all of the money coming from to pay for those so-called "strategic national investments"? You got it: The taxpayers.
All of that hope and the only things that are changing is the amount of money the IRS is collecting from taxpayers and the nation's debt. Check it out: Neither of those has been going down.
Let the discussion begin...
To read Diana Furchtgott-Roth's study, click on the following link:
"It Costs You a Fortune For Obama To Be Green."