, Columnist
Subsidize Solar and Wind Power, Not EVs
Advocates for green energy need to be smarter about the most effective policies to reduce carbon emissions.
A wise public investment.
Photographer: David McNew/AFP
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Like it or not, the world is going to fall far short of meeting its current goals for reducing carbon emissions. Given that reality, which policies that green energy advocates typically favor — carbon taxes, emissions standards, solar subsidies, tax credits for electric vehicles, and so on — are most effective and should be prioritized?
We economists have tools designed to address such questions. For all of its limitations, economics remains useful for comparing one set of expenditures to another, especially when there is a fixed goal, in this case limiting harmful climate change.