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A Law To Tackle Climate Change | Earth Wise

September 8, 2022 By EarthWise Leave a Comment

The Inflation Reduction Act signed into law in mid-August is the most comprehensive U.S. legislation addressing climate change ever enacted.   It contains $369 billion in funding for clean energy and electric vehicle tax breaks, domestic manufacturing of batteries and solar panels, and pollution reduction.

The legislation for the most part makes use of carrots rather than sticks to coax American consumers and industry away from reliance on fossil fuels.  Rather than establishing more carbon taxes, mandates, and penalties, the law largely makes use of tax credits to provide incentives for the use of clean energy.

The law provides a large mix of tax breaks intended to bring down the costs of solar, wind, batteries, electric cars, heat pumps, and other clean technology.  For example, consumers will get a $7,500 credit for purchasing many new electric car models and about $4,000 for buying a used vehicle.

On the stick side of the ledger, oil and gas companies that emit methane above certain threshold levels will incur fees that escalate over time.  The law also increases the cost to the oil industry for extracting fossil fuels from public lands.

The act provides $60 billion for overall environmental justice priorities, including $15 billion targeted specifically for low-income and disadvantaged communities. There are many other provisions in the law addressing multiple climate-related issues.

According to three separate analyses by economic modelers, the investments from the Inflation Reduction Act are likely to cut pollution by about 40% below 2005 levels by the year 2030.

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The US finally has a law to tackle climate change

Photo, posted December 15, 2021, courtesy of Mario Duran-Ortiz via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

Carbon Capture: Solution Or Band-Aid? | Earth Wise

July 13, 2022 By EarthWise Leave a Comment

Can carbon is part of the solution to climate change

The idea of capturing the CO2 emissions from industry and locking them up is nothing new.  It’s been going on for decades in some places.  Norway’s state-owned oil company Equinor has been holing away a million tons of CO2 a year for a long time.  But overall, CCS – carbon capture and storage – has had very limited use.  As of last year, there were only about 30 large-scale projects in operation around the world, capturing only 0.1% of global emissions.

There is now growing interest in CCS and many new projects are underway.  A combination of rising carbon prices in Europe, tax breaks for CCS in the US, national net-zero targets, and the increasing need to ramp down global emissions are all driving rising CCS activities. 

While recent reports from the Intergovernmental Panel on Climate change still claim that it is possible to remain below 2 degrees Celsius of warming without using carbon capture, there is growing belief that it may be necessary given the present pace of the transition away from fossil fuels.

Two industries that together produce about 14% of global CO2 emissions are cement and steel.  These are both industries for which it is difficult to eliminate emissions regardless of the energy sources used. CCS may be the best approach to reducing their emissions.

But there is considerable pushback against CCS.  The concern is that CCS is primarily a way to delay decarbonization.  It encourages various industries to continue to use fossil fuels instead of shifting away from them.  Nonetheless, CCS no doubt has its place as part of the solution to climate change.

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Solution or Band-Aid? Carbon Capture Projects Are Moving Ahead

Photo, posted June 5, 2022, courtesy of Mark Dixon via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

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