The grid has experienced an average decarbonization rate of 3.1% over the past ten years. Currently, tech-neutral tax credits are secured through 2032 or until the grid's CO2 emissions are reduced by 75% compared to 2022 levels, whichever occurs later. A key action for the Trump Administration would be removing the 2022 carbon reduction requirement for the grid-tied to these tax credits. Additionally, tax credits should be available for existing natural gas-driven assets, both baseload and peaking, to promote modernization and discourage early retirements. This approach will help as new nuclear and geothermal energy sources reach larger scales. Our existing baseload and dispatchable assets hold tremendous value and can be utilized immediately with the right policies and incentives. An all-of-the-above strategy is essential.
Travis Fisher — a former Trump Department of Energy adviser and current director at the libertarian Cato Institute — asserted the Inflation Reduction Act amounts to a “massive cash transfer under the guise of environmentalism.†He released a paper Tuesday stating the actual cost of the uncapped programs through 2050?could be closer to $4.7 trillion. “I have heard a lot of talk about how hard the IRA will be to repeal,†he said. “It’s also difficult to pay for. At some point we’re going to run out of other people’s money. It’s going to have to come to an end one way or another. The question is how many taxpayer dollars are we going to spend [before we] reform it?†https://lnkd.in/eNu_sVrM