Monday, January 25, 2010

Senator Robert Menendez D-NJ issues a Press Release that is not well thought out.

The Senator released a press release that had some very silly points.

The Solar Manufacturing Jobs Creation Act will spur growth and create jobs.

• Solar energy creates more jobs per megawatt of energy produced than any other form of energy. ( Doesn't that mean that it is inefficient? That it takes more labor to produce 1 megawatt than any other? )
• The impact would be immediate with firms having an incentive to make their investments early in order to capitalize on the refundable credit.(It doesn't say they will make a profit.They will get government money to make a bad investment?)

Other countries are providing incentives to attract solar manufacturing jobs.
• Malaysia: 15-year income tax holiday.
• Philippines: 6-year income tax holiday.
• Germany: Grants of 30% of investment costs for large enterprises (40%-50% for small/medium enterprises). (If it doesn't make any money, there won't be any income taxes to collect anyway?)

I am all for alternative energy. I am all for finding and using additional energy sources. I love the idea that companies like Exxon are investing in alternatives. But we have to remember the renewable energy resource industry is very small. And there is opposition on many fronts to portions of the use of alternative energy. Not many people like oil derricks or billboard signs blocking their views of the mountains, vistas, etc... What will they say when the government turns the Blue Ridge Parkway into Wind Turbine Way?