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US solar manufacturing capacity has quadrupled thanks to climate law (www.canarymedia.com)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 4 months ago (1 children)

Well, well. Welcome to the capitalism.

From the other article:

[the IRA] Provide incentives for private investment. The majority of the $394 billion in energy and climate funding is in the form of tax credits. Corporations are the biggest recipient, with an estimated $216 billion worth of tax credits. These are designed to catalyze private investment in clean energy, transport, and manufacturing. Many of the tax incentives in the bill are direct pay, meaning that an entity can claim the full amount even if its tax liability is less than the credit.

[–] [email protected] 9 points 4 months ago

The IRA is absolutely a bill which uses capitalist mechanisms to achieve some decarbonization.