By John Lawrence
Gas prices have dropped below $4.00 a gallon for the first time in several years.
Every one-cent drop in gas prices means a $1 billion annual decline in energy spending by Americans. Consumers can use the savings to eat out more often, buy more goods or pay down debt. That's good for US motorists and consumers, but that's not the whole story.
Part of the story has to do with the fact that solar energy is getting as cheap as coal and natural gas for the production of electricity. As solar prices drop even further, electricity costs for homeowners should come down. That would mean that electric cars powered off of home outlets should have a greater comparative advantage over gas powered vehicles.
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