Adam Michel and Nick Loris outline on The Daily Signal why tax incentives fail to drive energy innovation.
- While politically enticing, tax incentives stifle energy innovation.
- Tax credits distort the market by disincentivizing investment into technologies that the government doesn’t favor.
- Energy companies often become overly reliant on these subsidies which leads to inefficient and wasteful practices.
- Ultimately the best way to lower emissions and spur innovation is by unlocking the power of the private sector and ending tax incentives.
Read the full article here.