Thread by @GeorgeMonbiot

1. One of the big lies used to impede our transition to a low-carbon economy is that householders couldn’t afford the renovations. But there’s no reason why they should carry this cost. Let me introduce you to the Italian Superbonus scheme. It’s astonishing.
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2. It’s not perfect. There has been some maladministration and corruption. Some people question whether it’s the best way to go about it. But it’s yet another sign that when governments want to spend money, they can. It’s called the Superbonus scheme because, wait for it, ….

3. … it pays (as a 5-year tax credit) 110% of the cost of the energy and seismic improvements you make to your home. Yes, 110%. (The 10% is to cover transaction and finance costs etc). An Italian friend has received a credit of €120,000.

4. This enables him to insulate everything, install ventilation (so the insulation doesn’t cause damp), replace windows and doors, install a heat pump and solar panels and an electric column for charging a car. His home will be as close to carbon-neutral as a retrofit can get.

5. You don’t need to own the property you’re upgrading – tenants can do it too (with the owner’s permission). This makes the scheme less regressive than it might otherwise have been.

6. It’s expensive, but the government gets at least some of the money back: it boosted GDP by 0.7% in the first full year of implementation. It also created 153,000 jobs.
reuters.com/markets/commod…

7. There are things it could have done better. Among other works, you can use the scheme to install new gas heating. That might reduce your emissions a bit, but it still locks you into fossil fuels.

8. More should have been done to build a skilled workforce before the scheme was launched. Every nation now needs an army of qualified green technology fitters. There’s a massive skills gap everywhere, and great potential to create plenty of good, well-paid jobs.

9. And more should have been done to make it fraud-proof from the outset. The rules have since been tightened: gazzettaufficiale.it/eli/id/2021/11…

10. Has it ruined the Italian economy? By no means. On the contrary, it’s eminently affordable. Is it the alpha and omega of the energy transition? Certainly not. Alongside it you need a host of other measures.
For example:

11. Public information campaigns.
A one-stop advice shop.
Much more investment in large-scale low-carbon electricity generation.
Accompanying grid improvements, storage, balancing etc.
Active retirement of fossil fuel infrastructure.
A complete revamp of transport policy, etc.

12. But it shows that when governments want to act, they can. It shows that when they water the magic money tree, it bursts into leaf. It shows that the reasons the media and politicians give for sustaining our high-carbon economy are just excuses and lies.