There are ways to create jobs, and there are ways not to create jobs. Over the past several years, it has been proven time and again that the Republican mantra of giving tax breaks to the wealthy does not create jobs. Providing stimuli to incentivize worthwhile endeavors does create jobs.
The solar power industry in New Jersey has been a fantastic jobs creator in part due to incentives. Solar Renewable Energy Credits (SRECs) have been one of those incentives, but they have been a victim of their own success. Sold on the open market, SRECs have lost value due to the glut of credits resulting from the expansion of the industry in New Jersey.
Today, the Assembly Utilities Panel will review Bill A2507, introduced by Assemblyman Vincent Prieto that gives the renewable energy industry a shot in the arm. The “Solar Thermal Expansion and Jobs Creation Act” will provide loans and grants to promote green energy. And green energy means jobs. Not jobs that don’t add value by pushing paper and dollars around on Wall Street exchanges, but jobs that help keep our air and water clean and reduce our dependency on foreign imports. That’s the kind of leadership we need in Trenton and Washington.