Original
The effectiveness of green place-based industrial policy: Evidence from the Inflation Reduction Act
Abstract
Governments across the globe are turning to place-based industrial policies to make the green transition more equitable and politically palatable. The United States' Inflation Reduction Act exemplifies this approach through its "Energy Community" provisions, which offer additional tax incentives for clean energy projects in regions reliant on fossil fuels. We use spatially granular data on renewable energy investment, employment, and voting, and document that these incentives substantially increased local solar investment, but we do not find significant impacts on wind investment, job creation, or political preferences. Estimated abatement costs are well below the social cost of carbon and lower than those of other major U.S. climate policies. The results suggest that place-based green industrial policies can effectively direct clean energy investment toward disadvantaged regions, but their capacity to generate broader local economic or political benefits may be limited.
中文
绿色基于地区的产业政策的有效性：来自《通胀削减法案》的证据
摘要
全球各国政府正转向基于地区的产业政策，以使绿色转型更加公平且在政治上更易被接受。美国的《通胀削减法案》通过其“能源社区”条款体现了这一路径，这些条款为依赖化石燃料地区的清洁能源项目提供额外税收激励。我们使用关于可再生能源投资、就业和投票的空间细分数据，记录到这些激励显著增加了本地太阳能投资，但未发现对风电投资、就业创造或政治偏好有显著影响。估计的减排成本远低于碳的社会成本，也低于美国其他主要气候政策。结果表明，基于地区的绿色产业政策能够有效将清洁能源投资引向劣势地区，但其产生更广泛地方经济或政治收益的能力可能有限。
关键词
绿色产业政策、基于地区的政策、通胀削减法案、清洁能源投资、税收激励、能源社区、减排成本、政治偏好