Introduction:
The world fights the simultaneous battles of climate change and a move toward ubiquitous sustainable energy. The U.S. federal government leads the next wave of attack with the panoply of programs launched from the American Recovery and Reinvestment Act of 2009. Their secret weapons are safer, ultra-low-emissions generators of various descriptions. They are to be camouflaged among wind, solar, and other “clean” energy plants, in the new army of occupations that will guarantee “energy security.” Their job is also to ensure that the plants remain “innovative” and engines of a new, low-emissions economy—if one can be erected.
Why Governments Are Investing in Eco-Friendly Electric Generators
- Support from any government for “environmentally-friendly” electricity generators is something we see often today. And any government resolution or decision usually has more than one motivation. So likewise, with this government-support issue, we can list several excellent reasons for government support to turn to electricity generators that are more “environmentally-friendly” than the ones we’ve primarily been using up to now:
- Climate change, of course, is a biggie. On the whole, environmentalists and scientists (and quite a few other folks) still seem to mostly support the idea that using electricity generators that run on renewable energies (like sunlight, wind, and water power) can effect an enormous reduction in greenhouse gas emissions compared to our largely fossil-fueled status quo. And being energy-efficient is a big part of being “environmentally friendly.” It is also likely a, mostly, “big-government” solution to a “big problem.” And what is the “big problem”? Governmental environmental and health departments might put it this way: We still have a number of really good reasons to not like using diesel power and a few other types of not-so-healthy power systems that are similar to diesel.
Global Examples of Government Initiatives
- Inflation Act for 2022 contains meaningful tax reductions for life-sustaining energies that are threatening to die of underfunding: solar plants, wind farms, and even fossil fuel projects outfitted with carbon capture technologies are to be granted incentives that will facilitate their coming into being over the next few years, with the added hope that the sheer funding of these vastly underfunded energy projects will also facilitate their coming down in price.
- The European Union’s Green Deal has set a course for the EU to become climate-neutral by 2050. This requires several massive “waves” of renewable energy deployment. One of them must come from the development of an unprecedented charging infrastructure for electric vehicles of all types. Unparalleled numbers of EVs will demand an equally unparalleled amount of “fuel” in the form of electricity—much of which will have to come from power plants that run on renewable energy or some other form of low- or no-carbon electric power.
- Renewable Energy in China: China leads the world in renewable energy production and has set some audacious goals for its further development. The Chinese government sweetens the pot for renewable energy project builders with various forms of project subsidies and enticing tax breaks. However, what truly sets China’s renewable energy push apart (and above) the rest of the world’s is the massive amount of energy storage capacity that the country is also constructing.
- The subcontinent of India is quickly increasing its capacity for renewable energy, concentrating on solar power. The government has initiated several incentive programs to supply rural communities with electricity; many of these communities have never before had electric power. Through the use of small, local power plants fueled by solar panels and day-to-day solar energy savings, the Indian government hopes to serve these and other communities with long-lasting, dependable electric power.
- In the wake of the Fukushima nuclear accident, Japan has dramatically sped up its transition to using more renewable fuels. To encourage this shift, the government has adopted a combination of “carrot and stick” measures. It provides rewards for those who employ renewable energy sources and builds large-scale, offshore, and floating wind power stations. The government also dangles the promise of more yen before the eyes of those from whom it wants a change.
Types of Government Incentives
- The government uses different types of incentives to encourage the installation and use of environmentally friendly electric generators. One type is tax incentives. By using the Eco-Friendly Electric Power Generation Equipment Tax Deduction, for instance, individuals or companies who have installed wind turbines can write off 100% of the purchase and installation cost. They can also use the Renewable Energy Tax Credit to do this over successive years at a rate of 30% to the level of the tax credit they would be able to take for a normal fossil fuel power source. Another type of tax incentive is the Feed-in Tariff. This promises a fixed electricity rate over a long timeframe to cover not only the price of the power generated but also the return on investment. Since electricity rates are typically subject to going up as often as they go down, this is a powerful incentive.
Conclusion:
In the global shift toward an energy future that emits less carbon and is more sustainable, electric generators are serving up the coalitional powers of the series of technologies that can make that so-called “future” happen. On an international basis, governments are embracing and are trying to hurry along the implementation of these technologies. Far from being “boring,” as I assumed in my first reaction to the hearing of this seemingly endless seminar subject, the development, and use of electric-generation power plants are turning out to be a highly exciting, as well as remunerative, subject of conversation and action.
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