Eco 372 Week 5 Team Assignment

The importunity for renewable resources such as wind and solar is at it is all time high in the United States. It has increased tremendously since 2007. The surrounding communities are supporters of wind and solar power due to the fact of global warming and air pollution. The Solar and Wind energy industry is made up of the solar power and winder power energy sector. Wind Power is power generated from Wind turbines which is transferred to a generator, which produced alternating current electricity. Solar power is all electricity generated or saved with the use of Photovoltaic’s, Thermal concentrating systems, or heat collectors (Centre for Energy, 2013).

We all agree that renewable energy is a benefit, in this, the federal government's Energy Star Program can reimburse up to a certain amount of the cost of energy operative appliances and home attributions. Homeowners, for example, can buy an Energy Star biomass stove and receive 30 percent of the cost, up to $1,500, back from the tax credit. The American Recovery and Reinvestment Act of 2009 earmarked $2.3 billion to award to businesses in the form of tax credits to start expand or re-equip manufacturing facilities in the U.S. that produce energy operative equipment. This act also stated that the U.S. Treasury Department awards grants to businesses that build or run renewable energy production facilities, instead of tax credits, to reimburse them for a portion of their business expenses. The U.S. Department of Agriculture provides renewal energy grants through its Rural Energy for America Program. The department will cover up to 25 percent of costs for such projects incorporating solar, photovoltaic, geothermal, tidal and wave energy.

Businesses in the commercial, industrial, utility and agriculture industries are eligible for 30 percent off expenditures for solar water heat, solar space heat, solar thermal electric, solar thermal process heat, solar panels, solar hybrid lighting and small wind turbines up to...