Joe Biden's Climate Law Changed the Game -- But Not Nearly Enough [Financial Post (Toronto, Ontario, Canada)]
Edison International (EIX)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — President Joe Biden's landmark climate law has mobilized hundreds of billions of dollars in federal and private capital for clean energy. Yet, panelists at BloombergNEF's summit in New York said money alone won't supercharge the transition from fossil fuels. While the US spent $303 billion on the energy transition last year — thanks in part to generous tax credits and incentives in Biden's Inflation Reduction Act — the country has failed to reach its full decarbonization potential. Attendees pointed to permitting bottlenecks, connection delays and trade issues as hindrances slowing the greening of electric power grids. Article content Article content “You can throw all the money you want in the world, but if you can't get the steel in the ground, that's an issue,” said Pedro Pizarro, chief executive officer of California utility giant Edison Int
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