AZ Increasing Presence in Alternative Energy
I recently caught a news piece about Danish social scientist Bjoern Lomborg. The kernel of his big idea involves changing the way we think about the issue of global warming in terms of the use and burning of fossil fuels. Rather than focusing on capping the use of fossil fuels we should focus on creating the infrastructure for alternative energy. Further, we should be taxing carbon output and not tax–but incentivize–alternative energy. He predicts that with a push, the adoption of alternative energies will have the positive side effect of lessening our reliance on fossil fuels way faster than cap-and-trade situations.
Taxing carbon dioxide and raising investments for alternative energy seem to be great ways to decrease the effects of global warming. Carbon taxes, instead of cap and trade make more sense for curtailing our combustion of limited fossil fuel resources, and influence the creation of more clean energy systems and sources.
Cap and trade basically follows this outline: caps are set for maximum emissions for a trade area, for instance a maximum allowed emission of green house gasses for the United States. Individual companies can trade some of their emission output to their companies within the trade area, if they use less than their allotment.
So, how are the alternative energy companies fairing in Arizona? Fortunately for us, and our future economy, Arizona is quickly becoming a hot location for renewable energy companies. Fueled by aggressive, new business incentives, the state attracts new companies through the Arizona Commerce Authority (ACA). Arizona can boast to being home to more than 100 solar energy businesses, including the world’s two largest solar companies, First Solar and Suntech. These are pretty solid statistics that many would like to see grow into an economy unrivaled by other states.
“Arizona has been an ideal location for First Solar to grow its business, including our new factory under construction in Mesa that will add 600 associates to our local workforce,” said Maja Wessels of Tempe-based First Solar. “Arizona offers an attractive business climate, a talented workforce and boundless potential for clean solar energy.”
In recent months, Arizona has experienced significant growth in the renewable energy marketplace. Companies can take advantage of tax incentives (like Bjoern Lomberg suggested), a pro-business climate, a specialized workforce and, of course, more days of sunshine than any other state in the country.
Arizona will continue an aggressive new focus on solar and renewable energy following the passage of the Arizona Competitiveness Package. This legislation should significantly enhance economic development opportunities and encourage business relocation for companies that are leading the way in this fast-paced, innovative industry. The ACA exists to spread the word that Arizona is a key location for cutting-edge solar technology. Right here in our sun-drenched state the incentives for alternatives to fossil fuels are pushing the growth of Solar energy.
Incentives for renewable energy companies in Arizona include the following:
• Up to 10 percent of capital investments as a refundable income tax credit.
• Income tax credits up to $9,000 for each quality new job.
• Up to $1.5 million in reimbursable grants to train employees.
• Up to 34 percent research and development tax credit.
• Significant business tax reductions including lowering the state income tax from 6.97 percent to 4.9 percent.
Written By Chris Bale
Chris Bale is a National Associat Realtors Green Realtor with Keller Williams Lifestyle Realty and can be reached at 602- 573-0700 and email@example.com. Contact me for your Green Real estate needs and Green vendor resources.
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