Rochelle Toplensky of The Wall Street Journal writes that clean energy needs more than the Inflation Reduction Act.
- While the Inflation Reduction Act will likely lead to greater investments in green energy, it will largely fail to deliver the clean power goals that some are envisioning.
- The legislation fails to reform or streamline the permitting process under the National Environmental Policy Act (NEPA), which currently delays project completion times by an average of 4.5 years.
- Policymakers can better achieve a cleaner energy future by modernizing permitting and enacting free-market policies that accelerate innovation.
“Slow permitting is a longstanding challenge partly because it is politically risky to reduce locals’ rights to challenge new projects. Senators promised to work on a deal to fast-track planning permissions for a range of energy infrastructure, including for oil and gas, but it remains a big challenge.”
Read the full article here.