Biden’s green energy law is turning out to be huge

finance.yahoo.com

62 comments

To sum it up. The inital thought was that the bill would be a public investment of $385 billion in renewables, but it seems it will be more in the line of $1.2 trillion, so about three times more money. Certainly a big change and extremly good news.
I don’t like any politicians but I am willing to put this guy or his party back in in 2024. IDC what happens. Another liar zombie conservative is a waste of time and life.
- And to be honest, we’re running out of time.
  
  We are out of time. We are past the tipping point. Now it's just a matter of how much time we have left before the mass mortality events affect humans in a way that we notice.
  Tldr: Conservatives have won. We will die soon. How soon is not clear, but it will be soon.
- No doubt. I mean I look back and carter, reagan, bush, clinton, bush bugaloo, obama, trump, and biden and only half of those administrations ever did anything useful for me. I remember when the bush tax cuts allowed me to afford a drink at the bar. woohoo.
This combined with the fact that utilities like renewables due to their cheaper deployment and opex and you've got something going. Now all you have to do is accelerate and cap the depreciation of old equipment. Thanks Joe.
Goldman Sachs expects higher-than-expected private investment in all green energy categories affected by the IRA, but sees the biggest gains in two areas: electric vehicle production and advanced manufacturing.
Neither of these are green energy.
- Electric vehicle production is green energy in the same way that renewable powerplant construction is green energy. Both enable the US to reduce its reliance on fossil fuels and move towards a more sustainable energy grid.
  
  Renewable powerplant produces renewable energy.
  An EV is better than gas cars but it still may be using fossil fuel energy
- No true Scotsman doesn't help us.
  They're greener than the existing alternatives.
  
  Im not saying theyre green energy that dont deserve the title, im saying theyre literally not energy production. EVs are an energy use.
- They are ways to use green energy, just not ways to create it.
Love the idea, but: A lot of rich people will get much more rich. There will be a lot of money wasted on things, that will not work and the grifters will know that it was not gonna work. There are numerous examples from the „green coal“ projects that siphoned off a lot of money with unrealistic ideas without repercussions. The more desperate the world get for fast solutions regarding climate change, the more money will be thrown around unvetted.
- Mind you, a lot of is getting spent on things we know work, such as wind, solar, storage, and electrification.
  
  don't forget insulation. Its the cheapest, easiest, quickest return on investment green thing there is.
- The alternative is doing nothing, and we know how that's gonna turn out
- I recently listened to a podcast where the guest made the argument that the untied states is set up to benefit the petty elite. That means the guy who owns a car dealership or six McDonald's franchises. Suddenly these people love free government money when they're getting their hands on it.
  According to this article, much of these tax breaks will go towards electric vehicles. This means that business owners and other 1099 workers like realtors will bend over backwards to justify getting these credits. Overall, this will help shift people away from using gas cars. Not the best outcome to still have all these cars on the road, but it's a compromise at least.
  It also makes manufacturers build more energy efficient appliances, and solar panels. It will drive the cost of these things down over time as it becomes the default to put in a heat pump HVAC or water heater. We will see more changes in the design of things which makes them more efficient as demand for less efficient units falls off.
  The all or nothing approach was never going to work in the system we have now. It is a dumb compromise, but, it is at least a compromise. It gets the petty elite, that guy with a car dealership or six McDonald's, to embrace something that is better than what we have now.
This is good news.
Finally some good news from the US now that the orange idiot is gone
I'll believe it when I see it.
- Are you living under a rock? The IRA impacts are everywhere. For my home I was able to leverage a tax credit last year for installing an EV charger.
  There's rebates on EVs, home efficiency upgrades, solar, batteries, electric (+heat pump) water heaters, etc. etc. etc.
  There's also tons of money on the table for businesses pursuing cleaner energy, etc.
  
  I'm not American. Stuff Biden does seldom reaches here. I just have to go with whatever I hear when I enter the country. I was under the impression fxck-all was happening, and that China was the only one seriously making progress on their green goals. Lord knows Europe's been slow af.