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Encouraging the Development of Biomass-Based Alternative Energy: The Use of Tax Incentives
Yuang - Sung Al Chen, North Carolina State University
Lorraine M Wright, North Carolina State University
ABSTRACT. The development of biomass-based alternative energy needs the support of tax incentives to develop economical large-scale production and to gain public acceptance and use. In the near future, prices of all fossil fuel-based energy products will continue to rise. Energy resources should be a major concern to individual taxpayers because billions of dollars a year are spent on energy for personal consumption and in the production of goods and services. Individual energy expenditures are now rising at a faster rate than individual incomes. The national government can play an important role in developing renewable energy sources through diverse and sustained tax incentives. This article focuses on deliberating national tax law changes over the last 20 years and their implications on alternative energy development.
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