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The US plan to become the worldโ€™s cleantech superpower

Last yearโ€™s colossal Inflation Reduction Act and its hundreds of billions of dollars in cleantech subsidies are designed to spur private-sector investment and accelerate the countryโ€™s decarbonization effort. โ€œIt is truly massive,โ€ says Melissa Lott, director of research at Columbia Universityโ€™s Center on Global Energy Policy. โ€œItโ€™s industrial policy. Itโ€™s the kitchen sink. Itโ€™s a strong, direct, and clear signal about what the US is prioritizing.โ€ The tax incentives have made the US irresistible to investors, say cleantech developers, and are sucking money away from other countries. Since the passage of the IRA last year, $90 billion of capital has already been committed to new projects, according to Climate Power, an advocacy group. โ€œThe US is now the most opportunity-rich, most aggressive growth, most prolific market for renewables investment in the world today,โ€ says David Scaysbrook, managing partner of Quinbrook Infrastructure Partners, a global cleantech private equity group. โ€œAnd will be for quite some time.โ€ And the underlying effort to break the dependence on cheap Asian components that have sped the advance of renewables in recent years leaves many analysts skeptical. At a time when the White House is also contending with high inflation and Russian aggression, can the US reset the global energy order, create high-paying cleantech jobs at home, and cut emissionsโ€”all at the same time? โ€œThere is simply no reason why the blades for wind turbines cannot be made in Pittsburgh rather than Beijing,โ€ Biden said in a speech last April. https://arstechnica.com/tech-policy/2023/02/the-us-plan-to-become-the-worlds-cleantech-superpower/

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19 more agrees trigger contact with the recipient

  • Tabitha Kimani

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    73 w

    US as a super power is in a position to influence transition by leading from the front.

    5
    • Jane Wangui

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      โ€ข

      73 w

      Good

      • Grace wa Muiruri

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        73 w

        Clean energy production allows us to generate the energy we need without the greenhouse gas emissions and negative environmental effects that come with fossil fuels, in turn helping to reduce climate change.

        7
        • Ajema Lydiah

          โ€ข

          73 w

          great

          • Munene Mugambi

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            โ€ข

            73 w

            Clean energy gives you status in this new world

            6
            Welcome, let's solve the climate crisis together
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