Websites, apps and startups are rushing to track government incentives for climate technology
spend some time With people in the climate tech world, you’ll soon learn that many of them have something in common: They’re not used to having a lot of money.
This is because for many years climate has been a cost for many companies, not an opportunity. Fortunately, that has begun to change recently as investors rush into the space, seeking opportunities in “trillion-dollar double-digit markets” that are “largely disconnected from general technology investing,” says Joshua Posamentier, managing partner at match,” he told TechCrunch+.
Investment in climate technology has accelerated over the past five years or so. Although the sector hasn’t been completely immune to the slowdown that has swept the rest of the startup world over the past couple of years, we saw signs of an uptick in Q3.
This continued strength is due in part to US and European commitments to climate-related industrial policies. Between the bipartisan Inflation and Infrastructure Act in the United States and the Green Deal in the European Union, nearly $1 trillion in tax breaks, grants, and other incentives are available for climate and energy-related investments and purchases.
But these trillion-dollar forecasts may actually be conservative. An IRA alone may achieve more than that since many tax breaks are uncapped; Goldman Sachs It is estimated that the law’s climate-related provisions could pay $1.2 trillion in stimulus, spurring about $3 trillion in private investment.
That’s not enough to get the US or EU economy to net-zero carbon emissions (or to offset historical emissions), but it’s such a large down payment that it can be difficult to keep track of it all.
In fact, today’s climate tech finds itself in the unusual position of being awash in (relatively) cash, so much so that a number of websites, apps, and startups are rushing to track it all and help companies and customers make the most of the incentives.
Understands the whole topic
“Unfortunately, there is no comprehensive database of all these rebates and incentives,” said Thomas Stevens, co-founder of the company. sincerea startup that indexes incentives for traders.
For companies, gathering, understanding and integrating those incentives into their sales pitches is the cost of doing business, according to Tom Carden, head of engineering at the company. Rewiring Americaa non-profit organization advocating for the electrification of the economy.