Who’s Winning on Consumer Climate Incentives: the US or Europe?
The US is rolling out some serious subsidies to encourage consumers to choose a greener lifestyle, but Europeans already have a head start.
A commuter rides a foldable electric bicycle in Rome.
Photographer: Diana Bagnoli/Getty Images
The Inflation Reduction Act signed into law last month ushers in unprecedented incentives for American consumers interested in decarbonizing their lives, including rebates and tax credits for electric vehicle purchases, home-electrification upgrades, heat pumps and solar panels. In many cases, those incentives also bring the US into closer alignment with countries in Europe that have a longer track record with similar climate-centric policies.
Similar, but not identical. Here’s how various incentives geared at personal decarbonization are being approached in the US versus Europe.