Climate change and energy demand are among the most challenging problems facing the world today. In response to these problems, governments have increased their focus on renewable energy. Federal spending on renewable energy in the U.S. quadrupled between 1999 and 2007, rising to nearly $4 billion in 2007. During that time period, renewable energy production declined from 6.9% of total energy production to 6.7% of total energy production. This raises the question of whether federal spending and other financial incentives like subsidies or tax cuts are indeed an effective means to promoting renewable energy use
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