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Boom times for US green energy as federal cash flows in
The US government has directed unprecedented sums of money at green energy projects.
While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. It has also, combined with the BIL, led to a "dramatic growth" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030.
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