Matthew Engel

Schools Powered by Solar Panels in New Jersey

Tom’s River Regional Schools, NJ - Solar Powered Budget: Saving Green While Going Green

I am a firm beleiver in the implementation of solar power. With widespread use, this technology has the ability to produce enough renewable energy for millions of homes in the United States. Electricity generated from solar power can be produced at the site of intended use, eliminating the need for massive additions to the national grid. Panels installed on the roof top of your home can make enough electricity to charge batteries or fuel cells for your car and heat the hot water of your home, removing altogether or significantly reducing the consumption of gasoline and heating oil. This has a double positive effect of also cutting greenhouse gas emissions. In addition, a massive government initiative would have the power to create thousands of new jobs for contractors doing installations and construction.

A solar powered home

Contractors installing solar panels

There has been a lot of talk recently about how changes in the economy are affecting the energy sector. This is an extremely important topic to anyone who has money invested in mutual funds, stocks, their 401(k), mortgages, housing or any retirement portfolio. Why? Because the face of the stock market, as we know it, is about to change. The past decade has seen large oil companies reigning supreme posting double digit growth, with natural gas vying for a close second. It is indisputable fact, that these products are natural resources. And it is also indisputable fact that these resources are finite, and their steadily increasing consumption will lead to a jump in price as the Earth’s reserves dwindle. Therefore, at some point in the future, any company which relies solely on oil or gas supplies will be bound for failure. This can be validated by the divestment of the world’s largest energy companies into renewable sources such as wind and solar.

The New York Times reported in late October that investors are nervous about prices for fossil fuels falling, which could cause alternative energy start-ups to incur heavy losses or declare bankruptcy as their market dries up. It is already difficult enough to obtain venture capital or equity financing in these times. Fluctuations in energy prices add considerable uncertainty to alternative energy (AE) technology based companies. It is well known that this industry is currently extremely vulnerable and will probably require strong government backing by means of subsidies and research financing. Personally, I think this would be a tremendous investment in our nations future - much better than investing in other securities that may continue to decline in value, such as American automakers.

Let it be known, that I have full respect for American car manufacturers - I just believe that are much to slow reacting to market forces and have been at the mercy of American oil companies for too long. Why else would they continue to market and manufacture the gas-guzzling SUV’s when all other nations across Earth are making smaller, lighter, faster cars which run on less fuel. I find that absurd, and unless Detroit mounts a drastic change and realizes that the future is electric and hybrid vehicles, they will be out of business by Q4 09.

This is my challenge to the next president of the United States: many of us see a new way forward, and hope that you can realzie this vision. Our hope is that you can solve both the economic and energy crises simultaneously with one blow: bringing alternative energy sources and electric vehicles to market will no doubt require large amounts of man power and resources while slashing our most damaging expenditure - oil. Creating thousands of new jobs for AE contractors, mecahical and electrical engineers, and scientists to design and install solar panels, geothermal systems, wind turbines nationwide. This would destroy our addiction to oil and usher in the green century we all so desperately need.

The U.S. Army has launched several new domestic energy conservation projects to join their existing platforms. Led by the Assistant Secretary of the Army for Installations and Environment Keith Eastin in conjunction with the Senior Energy Executive for the Army, Paul Bollinger, the organization aims

to reduce energy consumption and increase efficiency while operating, building, and maintaining structures and bases. I think this is a major advancement in our national understanding of the current energy crisis. The military has traditionally been at the forefront of technological developments with full financial support from the government. Improvements in efficiency coupled with an increase in solar energy production could make a formidable impact on our energy usage over the long term.

By increasing alternative and renewable energy sources, the Army beleives it can significantly reduce the $3 billion it spends on energy annualy. The Army wants to serve as a model for the rest of the military and nation by installing a 500 MW (megawatt) solar thermal plant in Fort Irwin, CA in the Mojave Desert, purchasing 4,000 small-neighborhood electric vehicles for maintenance and operations staff use, developing biomass fuel projects in conjunction with the Navy, and entering into pilot energy savings contracts with the private sector. New solar projects are in the works for Fort Sam Houston, TX and Fort Carson, CO. At Forst Shaffter, HI photovoltaic cells are being installed in barracks as an ambitious recycling program begins in Fort Bragg, NC.

Today marked a significant milestone in the course of American history. The single largest non-military expenditure ever in US taxpayer dollars was approved by Congress and the President allocating $700 billion for funds aimed at refinancing the banking and lending industries. On Monday, a bill proposed by the Senate failed in the House by a margin of 228-205, with the majority of Republicans voting against. I must commend the Congress for not flashing a green light on first blush, as they wisely held out for key incentives which were included in today’s revision, passing 263-171 in the House. The initial legislation was denied by a majority of Republicans who could not acknowledge such a massive government intervention in the financial industry. This would go against their core beliefs in free markets and probably upset most of their constituents just a month before elections. In it’s essence, the bill will give taxpayers equity stake in potentially risky ventures.

However, on the bright side, the final allocations included several sweeteners which will give new life to the wind and solar energy industries, at least for the near future. Wind power subsidies, in the form of tax credits, are extended for one year. I found this slightly unhelpful, as wind energy producers will have to lobby again during the next budget hearing and redouble their efforts annually. For a government who is supposed to show strong leadership in the energy sector, this is a feeble accomplishment, compared to all the hoorah surrounding offshore oil drilling. But more positively, solar energy subsidies were extended for eight years, pledging support to homeowners who install these electricity generating systems.

As the dust clears between Senators and Congressional leaders in the House, it is fairly obvious that improvements in alternative energy have garnered enough support to make or break critical decisions on the floor. It is also obvious that the House is far more supportive of alterantive energies. This is clearly evidenced by their original counter bill proposed on Sept. 26 which included most of the approved incentives. According to the Wall Street Journal, a modern $40,000 solar power system, which is sufficient to completely power most homes, is only eligible for $2,000 in federal credits. The new bill would give homeowners as much as $12,000 federal dollars on new installations. This is a significant milestone for personal solar energy use, and I hope to see this rise to its full potential during my lifetime as a mianstream fuel source.