Amanda Chu, Jamie Smyth, and Aime Williams of the Financial Times write about green energy investment headwinds.
- Despite generous subsidies and tax credits for clean technologies, green energy financing is facing challenges.
- Citing high interest rates and steep borrowing costs, companies such as Ørsted, BP, and General Motors are abandoning massive clean energy projects.
- Open markets, investment and trade freedom, streamlined regulations, and economic freedom will allow the U.S. and the world to reach its clean energy goals more effectively than protectionism and industrial policy.
“The typical project built in 2022 took five years from the interconnection request to commercial operations, compared with three years in 2015. The backlog is worsening as more projects are attracted due to the incentives in the IRA, according to the report.”
Read the full article here.
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