“Noon Sunshine-Young Scholars Seminar” is a regular academic exchange platform held by School of Finance. It aims to offer valuable occasions of communications among scholars in our college, between teachers and students, the domestic and the oversea. In this semester, we keep our original intention, set off for a new voyage. We will devote ourselves to fostering the academic atmosphere in the college, and promoting the academic level for both teachers and students.

The sixth session of “Noon Sunshine-Young Scholars Seminar” for the Autumn Semester in 2025 is arranged as follows:

Lecture topic

Shadows in the Sunlight: Do Solar Power’s Benefits Shine Equally on Everyone?

Keynote Speaker: Zhuang Huiqi

Date

Thursday, October 23th, 2025

Time

12:00-13:30

Lecture Venue

Room 116, School of Finance

Abstract

This study investigates the structural inequities embedded within the allocation of non-refundable energy tax credits in the U.S. residential solar market. By analyzing

tax credit data from the Internal Revenue Service (IRS) alongside individual-level data from the Annual Social and Economic Supplements (ASEC), we reveal a significant

74% discrepancy in tax credit utilization between low- and higher-income households. Additionally, we find that 28% of homeowner households are ineligible for full solar

tax credits due to tax liability constraints. Using a structural model of household solar panel adoption that incorporates tax benefits, this research quantifies the adverse

impacts of current tax policies. Through counterfactual scenarios, we demonstrate that making tax credits refundable could increase adoption rates by 23.8% overall,

effectively doubling the number of solar panel systems among the most economically vulnerable populations. Furthermore, our evidence shows that refundability could lead

to a significant 8% reduction in emissions, including CO2, SO2, NOx, and PM2.5. These findings underscore the need for policymakers to restructure energy tax credits

to bridge the socioeconomic divide, thereby accelerating the transition towards a more sustainable and equitable energy system.