What role should institutions like Congress, EPA, etc play in promoting the use of renewable energy?

SOURCE: Financial Express

The economic principle I'm exploring is institutions are the "rules of the game" that influence choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my final post I will focus especially on what role institutions like Congress and the EPA should play in promoting the use of renewable energy.

After years of attacks on environmental safeguards, it's time to restore and strengthen the most important protections, and install solutions that benefit all American families, especially those most vulnerable to the effects of pollution and climate change.

The new Congress should make these steps a key part of its agenda, advance towards eliminating climate pollution by 2050, defend the EPA’s capacity to protect the public’s health from pollution and toxic chemicals, and preserve environmental safeguards that protect our air, water and land from polluters.

As far as why the government would invest in renewable energy resources, these would include energy security and affordability, the potential for job creation, future economic strategic positioning, and addressing environmental and other externalities. Having an institution as large and important as the government promoting renewable energy resources would increase the amount of investment put into it by a lot and the whole world would benefit.

Sources:

The Hill

Financial Express

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