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For GHG market failure: Consider that in New York City, every new natural gas customer gets an average of at least $33,000 of "free" hookup infrastructure. On the other hand, those who install heat pumps get $0. That is a massive market distortion.
And, current policy provides an implicit subsidy for gas expansion through inter-generational cost-shift. The cost of new gas infrastructure is recovered over 85 years, even though State goals require largely eliminating gas by 2050 (30 years). We will have much Stranded Assets!
