Living With Climate Change: Will midterm-election results kill the EV and home-energy tax breaks just approved?

by | Nov 6, 2022 | Stock Market

A shift in the makeup of Congress in Tuesday’s U.S. midterm elections would mostly involve tougher roadblocks and possible delays for future green energy and climate-change legislation, not a wholesale reversal of tax-friendly incentives targeting home solar, electric vehicles and other consumer-focused policy just passed in the Inflation Reduction Act. That’s the belief of most election watchers and green-energy groups even as some late polling shows Republicans on the verge of a House takeover and perhaps gaining the few key Senate seats necessary for a leadership change.

Of course, only the actual tally of midterm ballots will confirm the fate of what many have billed as the most sweeping U.S. climate-change and energy-efficiency policy ever, within the IRA. And there’s nothing stopping Republican lawmakers from advancing their own take on energy legislation within a new Congress, especially on the road to the presidential elections and next congressional reshuffling looming in 2024. Related: For EVs, solar tax breaks and climate change, here are the midterm elections that matterMost taxpayers haven’t yet used their credits and rebates The IRA includes nuggets for homeowners seeking more efficient heating and cooling, at least according to those who promote a switch to electric, ideally powered by solar, wind, nuclear or hydrogen, all cleaner burning fuel sources that have increasingly been brought on line once they became more cost-competitive to natural gas
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Transmitting cleaner electricity at scale remains the challenge. What’s more, the IRA targeted EV shoppers ready to make the switch with a sweetened …

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