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Biden’s $433 Billion Incentive For Clean Energy Isn’t Enough – Would You?


Essay by Eric Worrall

Does anyone else pretend that Biden’s “Inflation Reduction Act” has anything to do with inflation?

Big new impetus for clean energy isn’t enough – The Inflation Reduction Act is just the first step, now the hard work begins

Published: August 19, 2022 5.31 p.m. AEST
Daniel Cohan
Associate Professor of Civil and Environmental Engineering, Rice University

The new one Inflation Reduction Act subsidies for everything from electric vehicles to heat pumps, and incentives for most forms of clean energy. But pouring money into technology is only one step toward tackling climate change.

Wind and solar farms would not be built without enough power lines to connect their electricity to customers. The captured carbon and clean hydrogen wouldn’t get very far without the pipeline. Too few contractors are trained to install heat pumps. And electric car buyers will have to think twice if there aren’t enough charging stations.

In my new climate solutions book, I discuss these and other obstacles hindering the clean energy transition. Overcoming them is the next step as the country figures out how to make the goals of the most ambitious climate law Congress has ever passed a reality.

As for infrastructure, tax credits for electric cars won’t do much without enough public chargers. America has about 145,000 gas stationsbut only about 6,500 quick charge stations that can refill batteries quickly for drivers on the go.

More than 1,300 gigawatts of wind, solar and battery projects – several times the capacity available – await builtbut they have been delayed for years due to lack of grid connectivity and backlog approval processes by regional grid operators.

The Infrastructure Investment and Jobs Act passed by Congress last year provides some funding for chargers, power lines and pipelines, but not enough. For example, it only spends a few billion dollars on high voltage power linea fraction of the hundreds of billions of dollars necessary, needs to chart the path towards net zero emissions. $7.5 billion for its charger is only a third of the project in favor of electric vehicles necessary, needs.

Read more: https://theconversation.com/big-new-incilities-for-clean-energy-arent-enough-the-inflation-reduction-act-was-just-the-first-step-now-the-hard-work- start-188693

$21 billion for power chargers ($3 x $7.5 billion) + regardless of maintenance costs, hundreds of billions of dollars for high-voltage power lines and other fixtures in addition to the $433 billion Biden paid allocated in its “inflation-reducing action”.

I suspect just a trillion dollars will be the ultimate green demand for money. These costs will be passed on to consumers, either through taxes or direct fees.



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