Solar energy is the hope for the future for many environmentalists, but it is also becoming the hope for many as the cure for economic inequality.
During his campaign for presidency, President Obama laid out his intention to spread the wealth, but inequality has continued to increase. In fact, the U.S. median household income in June 2013 was 4.4% below where it was in June 2009. Meanwhile, the top 1% of wealthy Americans continues to pocket the growth.
How does the use of solar panels help with this? As the technology used to access solar energy improves and the cost decreases, the potential for massive economic growth increases. The total solar energy hitting Earth each year is equivalent to 12.2 trillion watt-hours. That’s over 20,000 times more than the total energy that all of humanity consumes each year, more in one year than the total quantities of fossil fuels that have yet to be extracted. That is a source of fuel for an awesome amount of potential growth.
The logical result of solar energy being cheaper than oil, coal and natural gas is the decline in energy costs. Individuals who are struggling to pay the costs passed down the chain to consumers due to the expense associated with fossil fuel extraction, will feel the relief. The benefits of solar panels can be obtained by anyone, not to the limited few who own a coal mine or oil well.
Imagine the savings citizens would enjoy if they owned an independent energy supply that powered their lights, computers and even electric cars. With inexpensive, decentralized energy, it is possible for a signficiant distribution of the wealth.
Some theorists have compared solar energy as a modern and non-violent improvement on the 19th and 20th century movements of workers seizing factories and farms. Removing the control of energy from the hands of capitalists and placing it into the hands of the public could have a significant impact on the economy.
If you have any questions about the issues discussed, please contact me or the Scarinci Hollenbeck attorney with whom you work.
Section 363 Sales in Bankruptcy: What Businesses, Lenders, and Buyers Need to Know
When a company enters Chapter 11 bankruptcy, many assume the process will culminate in a lengthy reorganization plan. However, distressed businesses are increasingly being sold through a different mechanism — a sale under Section 363 of the United States Bankruptcy Code. A Section 363 sale allows a company, as a debtor-in-possession in bankruptcy, to sell […]
Zoning Laws Explained: What You Need to Know Before Buying Property
Before buying property, it is critical to determine whether local zoning laws may affect your plans. If you plan to redevelop the property, you will want to confirm that local zoning regulations permit development as intended. If acquiring property that is already developed, you must verify that the use is permitted in the underlying zoning […]
Special Needs Trusts in New Jersey: Planning for Your Loved One’s Future
For parents of a child with a disability, estate planning raises concerns that go well beyond deciding who will inherit their assets. Parents may spend years making sure their child has the right care, services, and support. Eventually, they must also confront a difficult question: Who will take over when they can no longer do […]
What Every Real Estate Investor Should Know Before Buying a Rental Property
Before buying a New Jersey rental property, an investor should verify realistic operating numbers, the property’s legal and regulatory status, lead-based paint and flood compliance, the existing leases and tenant protections, and the right ownership structure. A rental property is more than a piece of real estate; it is an operating business subject to legal, […]
Can You Change an Irrevocable Trust in New Jersey?
In New Jersey, an irrevocable trust can sometimes be modified even though its name suggests otherwise, and one of the primary tools for doing so is a process called decanting. Whether decanting is available depends on the specific terms of the trust and the discretion given to the trustee. Key takeaways: New Jersey has no […]
How Intellectual Property Valuation Will Impact Business Transactions
Intellectual property valuation determines the monetary value of a business’s IP assets, and it drives outcomes in licensing deals, joint ventures, mergers and acquisitions, financing, and ownership disputes. The most valuable assets of a business are often the things that cannot be seen or touched: a proprietary process, a copyrighted work, brand recognition, or the […]
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