Part of the logic of this standpoint is that, as we have seen at length in this book, the state is in fact already deeply implicated in the project of electricity decarbonization. Through renewables capacity auctions and feed-in tariffs and the like, it plays a fundamental role not just in shaping the pace and form of decarbonization, but also in funding it. Only it typically does not own and control the assets and income streams that eventuate; it takes the risks – actively removing them from the shoulders of reluctant developers and financiers – yet seldom gets any of the pecuniary rewards.
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