The cost of installing solar panels is a significant barrier for low-income families, highlighting the need for sliding scale tax credits to make sustainable energy solutions more accessible to all. Experts
Saturday 9 November 2024
ISLAMABAD (News international New Latest-International Press Agency. 09 November 2024) Sliding scale tax credit for low-income households to go towards solar energy by the government to make sustainable energy solutions more accessible to all. highlight the need for Speaking to Wealth Pak, former Chairman R&D University of Central Punjab Dr. Qais Aslam said that the cost of installing solar panels is a major barrier for many low-income families while government and NGO programs on solar energy The initial investment often exceeds what vulnerable households can afford.
He stressed that sliding-scale tax credits are essential to increasing access to solar energy for low-income households by offering financial assistance and adjusting tax rates according to income levels to make solar technology more affordable. These incentives could allow low-income families to invest in solar panels without facing the already debilitating cost burden, creating a more holistic approach to green initiatives. will stimulate the energy market rather It will also promote a sense of ownership and responsibility towards sustainable practices among communities.
In addition, sliding scale tax incentives can create employment opportunities in the green energy sector, he said.As more households adopt solar technology, demand for skilled labor in installation, maintenance and support services will increase locally. Communities can see a substantial increase in employment opportunities, especially in areas where career opportunities are limited.
By ensuring access to solar energy for low-income households, the government can address environmental concerns and promote economic growth, observed Dr. Sajid Amin Javed, Deputy Executive Director of Research at SDPI. In a country where 39 percent of the population lives below the poverty line, the cost of solarization diverts funds from essential needs such as food, health care, and education. Without adequate financial support, environmentally focused initiatives are unintended. Socially A sliding tax structure, where contributions are based on ability to pay, can generate revenue for reinvestment in low-income communities.
By ensuring fair cooperation from corporations and wealthy citizens, governments can create a more equitable system that supports environmental sustainability and lifts vulnerable groups out of poverty, he said. Implementation will require coordinated efforts between the government, financial institutions and civil society. Policy makers should design tax incentive programs. of households in applying for Can help ensure that solarization resources reach those most in need.
He suggested that public awareness campaigns could educate citizens about the long-term benefits of solar energy and the financial assistance available to many low-income households for potential savings in electricity bills or switching to solar energy. Environmental benefits may not be realized By raising awareness, government can promote a shift in mindset toward sustainability that values both individual and collective responsibility.
Comments
Post a Comment