Do you think that we could boost our economy using renewable energy?



  1. 0 Votes

    That answer is a big maybe. First of all, it depends on how viable and profitable renewable energy sources are. If they are profitable, then you will see private companies get into the business and start using renewable sources of energy on a large scale. If it works out, and renewable energy is a cheaper, faster, better (and it certainly is a greener) way to power a large percentage of the country, then entreprenuers will pounce on it, creating businesses that create jobs for Americans, increasing wealth, and therefore boosting the economy.

    However, implicit in the way you worded your question is the idea that government needs to get involved and actively try to boost the economy by subsidizing companies that use renewable energy sources. While this is noble, and certainly green, it is not a smart way to boost the economy long term. It may create some jobs in the short term, but it’s not really creating new wealth, since you’re simply using taxpayer dollars (money taken from others in the same economy) to pay for it. Another problem with this is that the government can continuously pump money into failing businesses with no regard for the profit/loss system. If a company is losing money, it needs to fail so that a better, more competent company can use their capital to create a successful business. If government simply subsidizes loss, you’re encouraging poor business practices and incentivizing loss. In fact, some renewable energy companies are currently experiencing hard times and laying off employees despite being subsidized by the government to the tune of 3 million dollars.

    A better way to encourage people to use renewable energy and convince them to use more green energy sources is to educate them. Convince them that paying a little bit more for cleaner energy is worth it in the long run. Yes, dirty fuels like coal and gasoline may be cheaper, but you pay for it in the end.

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