Solar Power: Reverse Robin Hood

Warren runs the numbers on residential solar power in Phoenix:

It can in fact be a good investment — for you.  For the country, it is a terrible investment.  Your neighbors are contributing $57,930 in subsidies while you receive just $12,081 in benefits.  The remainder, just over $45,000, is a dead-weight loss to the economy.  It is money destroyed by the government.
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As wealth transfers go, this is a particularly egregious one, as it tends to add costs to the electric bills of the poor and middle class so rich folks can build hobby solar systems so they can tell their friends at cocktail parties that they are “green.”

Gee, a program to subsidize the rich, paid for by the taxpayers. Given our current political class, why am I not surprised?

Posted by: Old Grouch in Linkage at 21:00:37 GMT | No Comments | Add Comment
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