By Maxine Joselow
Good morning and welcome to The Climate 202! Today we’re laughing about comparisons between Olympic sports and sources of clean power.
Related: Biden’s clean energy tax credits are the cheapest climate solution yet
The clean energy tax credits in the Build Back Better bill could be one of the most cost-effective climate policies in U.S. history, according to a new analysis by researchers at the University of Chicago and the Rhodium Group, an energy research firm, Robinson Meyer of the Atlantic reports.
If enacted, researchers said the credits would cost the public only $33 to $50 to prevent one ton of carbon dioxide from entering the atmosphere — compared with most of the federal government’s existing climate policies, which costs hundreds or even thousands of dollars per ton.
The researchers also found that the credits’ benefits would be three to four times as large as their costs, creating an estimated $1.5 trillion in economic surplus while eliminating more than 5 billion tons of planet-warming carbon pollution through 2050.