The last two industry bubbles that made our economy soar have come and gone. There was the internet bubble followed by the housing boom and bust. Tectonic shifts in the economy are normal. Decades ago, it was widely accepted that economic growth was tied to the success of the automobile industry. Remember the phrase: As Detroit goes, so goes the nation?
Lately, many have suggested that alternative energy manufacturing would become the industry to provide the needed growth. However, the production we seek in solar panels and wind turbines is already being out-sourced and flowing here from other countries. But, it is not too late to intercept this trend and challenge. The U.S. should pursue a grand “moon shot” industrial policy for in-sourced alternative energy that will produce economic growth with manufacturing and installation jobs and needed tax revenues while cutting our dependence on imported oil.
A 5-Point Plan of Structural Incentives to Grow the Alternative Energy Industry: