Cashing In on Climate Change Subsidies: It Helps to Be Rich

7 Feb 2023 | ENVIRONMENT, What's New

Somini Sengupta of the New York Times has candidly shared an analysis of “how to get government aid to ditch fossil fuels.” Here’s a sample (Sengupta cites research  by two colleagues).

“How do you cash in?” she asks. Her answers:

“For those of you who own a single-family home, if you can fork out the money to buy a new heat pump or an energy efficient refrigerator right now, you can be rewarded with tax credits down the road. They also cover things like solar panels, heat pumps, stand-alone batteries and energy efficient windows.

“If you don’t have that kind of money, be prepared to wait. Rebates for big-ticket items, including upfront discounts at the point of sale don’t kick in until later this year. They’re going to be administered by state energy departments and tribal governments. “The tax credits are linked to your tax bill, so if you don’t owe the federal government any money, you won’t get anything back, either.”

Image by Arek Socha of Pixabay.

Read the original post on the Environmental Blog.

John C. Goodman is President of the Goodman Institute and Senior Fellow at The Independent Institute. His books include the soon-to-be-published updated edition of Priceless: Curing the Healthcare Crisis, the widely acclaimed A Better Choice: Healthcare Solutions for America, and New Way to Care: Social Protections that Put Families First. The Wall Street Journal and National Journal, among other media, have called him the “Father of Health Savings Accounts.”


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