The Strategy Against Russia Is Working and Must Continue Metin Aktas/Anadolu Agency via Getty Images.Over time, they will only become cheaper and faster to deploy on a greater scale. The costs of clean-energy technologies have been falling rapidly, following predictable learning curves. In the short run, its proposed investments would produce many high-paying jobs in clean-energy infrastructure, funding the installation of more wind and solar facilities, EV charging stations, hydrogen production plants, and programs to retrofit buildings for energy efficiency.īetter still, over the long term, all of these investments will result in lower energy costs, more resilient energy systems, and a healthier population – among many other benefits. The European Green Deal is the perfect model for designing stimulus and recovery packages to create both immediate and long-term economic advantages. The United States, on the other hand, is increasingly at risk of being left behind. And China will inevitably build on its pre-pandemic competitive advantages in solar power, electric vehicles (EVs), and batteries. The European Union is already poised to speed ahead with the European Green Deal. If designed correctly, stimulus and recovery packages can position countries and regions to reap the benefits of the industries of the future. DENVER – As governments around the world adopt policies to address the immediate economic fallout of COVID-19, they are making decisions that will also determine their countries’ competitiveness for decades to come.
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