The only thing I’d add is that solar is only part of it. You also have tax credits for storage (batteries), wind and green hydrogen. I think nat gas is awesome, but I do think these subsidies will incentivize a lot of companies to use green technology.
I agree that the subsidies will incentivize a lot of companies to develop and use the green technology that is specified in the bill. My issue is there is no guarantee that those are the best technologies to achieve the ultimate goal of reducing carbon emissions. In 2006, solar panels looked like the technology that would reduce carbon emissions over the next decade-plus, so the government subsidized them, companies produced more of them, and carbon emissions were reduced by the expansion of natural gas and not solar panels. When there is demand (and there is high demand for green technology), the market will figure out the best technology to meet that demand and the most efficient way to produce. Subsidies from the government could, and usually do, incentivize companies to invest capital in technology that is ultimately a waste.
The only thing I’d add is that solar is only part of it. You also have tax credits for storage (batteries), wind and green hydrogen. I think nat gas is awesome, but I do think these subsidies will incentivize a lot of companies to use green technology.
I agree that the subsidies will incentivize a lot of companies to develop and use the green technology that is specified in the bill. My issue is there is no guarantee that those are the best technologies to achieve the ultimate goal of reducing carbon emissions. In 2006, solar panels looked like the technology that would reduce carbon emissions over the next decade-plus, so the government subsidized them, companies produced more of them, and carbon emissions were reduced by the expansion of natural gas and not solar panels. When there is demand (and there is high demand for green technology), the market will figure out the best technology to meet that demand and the most efficient way to produce. Subsidies from the government could, and usually do, incentivize companies to invest capital in technology that is ultimately a waste.