Dear Reader,
In the wake of the US’ Inflation Reduction Act (IRA), 2023 has begun with what has been named a ’cleantech arms race’. And while this might be the best arms race possible, it’s not unequivocally positive. As cleantech giants begin to show signs of moving business towards the tax credits offered by the IRA, the EU is planning to match the act with an incentive of its own, a Net-Zero Industry Act. While this will undoubtedly mean more incentives for cleantech organisations, some fear the cleantech race will escalate into a full-on cleantech trade war. At Discover Cleantech, we believe market competition and innovation incentivised and directed by legislation and economic stimulus are key to solving the climate challenge, but not at the cost of collaboration. To reach the goal…