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Journal of Science Policy & Governance | Volume 17, Issue 01 | September 30, 2020

Policy Memo: ​Financial and Environmental Cost-Benefit Analyses Support the Continuation of Government Incentives for Solar Power

Ryan Himes, London Withers, Alyssa Black

​Olivet Nazarene University, Department of Biological Sciences, Bourbonnais, IL
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https://doi.org/10.38126/JSPG170109
Keywords:  solar energy; renewable energy; investment tax credit; government incentive; climate change; solar renewable energy credit; solar renewable energy certificate
Correction: A previous version of this paper was improperly formatted. The issue has now been corrected. (December 16, 2020).
Executive Summary: Solar power is a source of clean, renewable energy that can help consumers reduce their carbon footprints and curb climate change. In recent years, government incentives, along with improvements in efficiency and reduced costs, have made solar power financially beneficial for consumers as well. In order to accurately analyze the costs and benefits of a potential solar project, many factors must be considered. These include the size of the solar array, the amount of sun exposure, the lifespan of the panels and inverters, the lifespan of the roof or other foundation, the current and future price of utility-provided electricity, and the amount of government incentives offered. These factors are described in detail throughout this article, and the analysis reveals that government incentives for solar power projects make a substantial positive impact on the financial feasibility. We find that the US federal and state governments should continue their incentive programs in order to prompt more organizations to transition to solar power and thereby reduce greenhouse gas emissions.

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Ryan Himes is a professor of biology at Olivet Nazarene University in Bourbonnais, IL. He earned his Ph.D. in human physiology from Loyola University Chicago, in the laboratory of Dr. Seth Robia.
 
London Withers is pursuing an environmental science bachelor’s degree at Olivet Nazarene University in the Honors Program. She plans to continue research with Dr. Himes on other environmental issues, specifically recycling programs.
 
Alyssa Black is currently in pursuit of a biology degree with a minor in chemistry at Olivet Nazarene University. She hopes to further involve herself in matters concerning environmental reform throughout her lifetime while also working in the medical field.
DISCLAIMER: The findings and conclusions published herein are solely attributed to the author and not necessarily endorsed or adopted by the Journal of Science Policy and Governance. Articles are distributed in compliance with copyright and trademark agreements.

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