Clean Energy Or Fossil Fuels? Wall Street Is Betting On Both

The U.S. clean energy sector has been soaring so far in the aftermath of the Senate’s passage of a historic climate and energy bill that experts have hailed as the largest investment in fighting climate change ever made by the country. Dubbed the Inflation Reduction Act, the bill allocates $369 billion to renewable energy with the American Clean Power Association estimating it could more than triple clean energy production, cut emissions by 40% by 2030, and create 550,000 clean energy jobs. The Inflation Reduction Act will extend a number of tax credits already available for renewable energy and also create new incentives for investment in clean energy technology or energy generation. For the first time ever, would-be investors in clean energy have assurances in the form of a decade of subsidies from the federal government.  But make no mistake about it: hundreds of…

Read more…