Government Subsidies for Solar Panels Substitutes can help reduce the price of economic costs of some necessary telltales. Solar energy is a substitute and also an opportunity cost for the energy we use now, called fossil fuels. There are many benefits to switching from fossil fuels to solar energy. Solar energy can help lower the cost of the energy we use now by burning fossil fuels, changing the supply and demand of the product. Also, it can help the pollution that Is causing further health and economic problems.
Since there are many benefits to funding research about solar energy and knowing the benefits the alarm panels actually have, I believe government funding to keep prices low on this product is necessary. Subsidies given to producers of solar panels would mean money given to businesses would be used to keep prices low, and all the benefits currently about solar panels would still be in play. Also, if subsidies are given to businesses, there will be a lower chance of a monopoly because the prices will remain at a lower cost.
Since the government has a regulation on the price of the product once they would give the business a subsidy, there will continue to be imputation between industries. Knowing all this would have a positive impact on the economic outlook of the situation. Solar energy is considered a “green” source of energy. Green sources of energy became a big role in the economy around the sass’s when there was a period of time when there was a shortage of fossil fuels.
Many subsidies were funded from the government for further research on green energy at that time, and specifically solar energy. People were desperate to find substitutes for energy since the price of 011 was basically doubling overnight. After all the funding, by the sass’s, solar energy costs had dropped as predicted and it was looking very promising for more funding and the beginning of solar energy being introduced instead of the scarce fossil fuels. History of Solar Energy) Economically, there are advantages and disadvantages to funding and using solar energy and solar panels. The price of solar panels themselves has decreased because of Increased technology. Costs for small-scale consumers have dropped greatly since 2010, Glenn them a huge advantage to use solar energy in various ways.
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Government Subsidies for Solar Panels. (2018, Jan 09). Retrieved from https://graduateway.com/government-subsidies-for-solar-panels/