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Again, Federal Tax Credits Are Found Effective: A Reply

One of the greatest compliments that can be paid to a research effort is an attempt to refute its findings that instead replicates those findings. That is the present case. Commenting on Carpenter and Chester (1984), Peterson (1985) states, "The authors conclude that conservation credits have done little to stimulate conservation expenditures, but that the renewable energy credit has increased the demand for solar space and water heating systems. Unfortunately, problems with the data used by Carpenter and Chester cast doubt on their findings." Peterson then concludes, from his analysis of the "better" data set, "The percentages from the table suggest that solar purchasers are much more affected by the availability of tax credits than are conservation investors."

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Energy Specializations: Energy Efficiency

JEL Codes: Q20: Renewable Resources and Conservation: General, Q21: Renewable Resources and Conservation: Demand and Supply; Prices, Q38: Nonrenewable Resources and Conservation: Government Policy, Q32: Exhaustible Resources and Economic Development

Keywords: Federal tax credits, Conservation, Solar energy

DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No3-11

Published in Volume 6, Number 3 of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.


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