Preferential tax treatment reduces the necessity for an industry to make its technology cost-competitive, because the tax credit shields a company from recognizing the actual price at which its technology is economically viable.
"One issue remains. Does the administration want to unleash the power of the private sector? Or does it want to change it by forcing companies with draconian regulation? If the administration cares about the climate, it has to think about the business community as a friend instead of a foe."
Through private sector innovation and smart federal policies, we can look to end China's monopoly on rare earth elements.
"Many of the investments come with the stipulation that the workers on projects in the plan earn a high wage and receive labor protections. The White House also included in the plan legislation that would establish penalties on employers who violate the National Labor Relations Act and make it easier for gig workers to form unions."
"Despite its pledge to reach net-zero carbon emissions by 2060, China continues to burn more coal than any other developed nation, relying on the fossil fuel to satisfy the nation’s surging demand for electricity."
"Breakthrough Energy Ventures has backed HyPro in a $22 million round to take the company’s product from lab prototype to the factory floor. HyPro says its revolutionary method for producing green hydrogen is over 95% efficient, safe and cost-competitive with fossil fuel derived hydrogen."
"Low prices for U.S. gas truly are a great thing. Gas is now second to sister fuel oil and supplies 33% of our energy – and 40% of our electricity, double the share of second-place coal. Low and stable natural gas prices have benefitted families and helped businesses reduce costs, saving a family of four, for instance, $2,500 per year since 2007."
"Degrowthism may seem like the only reasonable response to the climate challenges we face, but the experience of enforced economic shrinking during the pandemic indicates the pain would outweigh the benefits — especially for the world's poorest."
"Some industries can shift quickly to renewable electricity, but others will require decades to clean up. As carbon prices rise and emissions regulations tighten, investors will need to pay ever closer attention to how companies get to their trumpeted net-zero commitments."
"The Bureau of Labor Statistics reports that solar power technicians make $43,000 and wind turbine technicians earn $53,000 annually. In other words, these new 'high-paying jobs' pay $60,000 to $70,000 less than their oil and gas counterparts. This is a significant wage gap to close by any standard.
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