What are the Incentives of renewable energy?

The economic principle I’m exploring is people generally respond to incentives in predictable ways.

www.ucsusa.org

 My research question to help me study the economic principle is What incentives do individuals have to increase usage of green energy?

The article/video/etc published in the Union of Concerned Scientists titled “Renewable Electricity Standards Deliver Economic Benefits" demonstrates this economic principle because it argues/shows that government provides incentives for renewable energy.

First, the government provides federal subsidy in order to fund and reward those who install renewable energy.Also, there are proposals that those who do use more renewable energy should receive tax advantages. The Union of Concerned Scientists urges that all levels of local, state, and federal government must assist in providing incentives and cooperating in transitioning to renewable energy.

Second, government and corporations fund businesses to harvest renewable energy systems and also try not to change consumers’ typical prices by doing so. Businesses do not have to extensively suffering by converting to renewable energy harvesting. Government provides an easy transition to save the environment by providing incentive to not severely increased the price of their products.

Third, the installation of renewable energy by the government eventually gives company free energy due to harvesting the sun or wind which does not cost money unlike paying for electricity rates and fossil fuels which can have volatile prices. The money saved is a huge reward for companies who want to save money on the necessity of electricity.

In my next blog post I will research:  

What laws have been enacted to encourage renewable energy production?