Can Solar Energy Cure Economic Inequality?

Can Solar Energy Cure 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.