30 Aug '15, 9am

60% of $18B in US clean energy tax credits 2006-2012 went to top 20% by income; 90% in the plug-in program

60% of $18B in US clean energy tax credits 2006-2012 went to top 20% by income; 90% in the plug-in program

60% of $18B in US clean energy tax credits 2006-2012 went to top 20% by income; 90% in the plug-in program 30 August 2015 A working paper by a team at the Energy Institute at Haas, University of California, Berkeley, has found that 60% of the $18 billion in US federal income clean energy tax credits issued between 2006 and 2012—e.g., for weatherizing homes, installing solar panels, and buying hybrid and electric vehicles—went to the top income quintile in the US (above $200,000 per year). The bottom three quintiles (up to $75,000 per year) received about 10%. The most extreme case, Severin Borenstein and Lucas Davis found through their examination of tax return data from the IRS, is the program aimed at electric vehicles—the top income quintile received about 90% of all these credits. As a result of the work, Borenstein and Davis conclude that tax credits are likely to be ...

Full article: http://www.greencarcongress.com/2015/08/20150830-haas.html

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