Energy Subsidies Generate Financial ‘Green Bubble’

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Free Beacon:

Private solar leasing companies are renting solar panels to homeowners at high costs while also receiving millions of dollars in taxpayer subsidies, a combination that could create a financial bubble similar to the 2007 housing market crash, according to a new report

 

According to the report released by the TaxPayers Protection Alliance on Friday, the government subsidy of solar panels is too high for their low popularity. Less than one percent of America’s energy supply is based on solar, and the subsidies increased more than 38 percent from 2010 to 2013.

 

“Much like the housing bubble and subsequent financial crisis, handouts at the federal and state level are creating a solar bubble that taxpayers are propping up, and it will be the taxpayers and investors who take the hit when the industry comes crashing down,” the report says.

 

The average cost for a homeowner to install solar energy panels can fall between $10,000-$50,000, opening up a market of solar leasing companies to help cover costs and take advantage of the state and federal subsidies that the homeowners pay for.