FILE – This Monday, Feb. 1, 2021 file photo, emissions from a coal-fired power plant are silhouetted against the sunset in Independence, Mo. (AP Photo/Charlie Riedel)

Ask the American public about Asian technologies in the US, and these days they are likely to mention semiconductors. Used in almost everything from cell phones to washing machines, the recent semiconductor shortage has created severe pressure on the supply chain that has hiked costs for Americans across the country.

Unbeknownst to many, Asia – and China in particular – dominates another important industry, which could threaten US stability and security: clean energy technology.

As the demand for energy grows worldwide, so does the demand for cheap, clean energy. Whichever country seizes this opportunity and becomes the world’s leading energy innovator will enjoy tremendous economic growth, access to emerging markets, and geopolitical influence. These are the benefits that could come from the US competing in – and winning – the energy arms race of the 21st century.

Unfortunately, in many ways, this is a competition that the US is currently losing. The solar panels you can buy to use in your home are most likely made in China, which dominates 60% of the global solar panel market. The world’s largest capacity for wind energy: again, China. And on top of that, the Chinese Communist Party is rapidly accelerating its ability to export technology and infrastructure as part of the Belt and Road Initiative.

On this critical topic, America has yet to bring its A-game. If we do, we can grow our economy and create hundreds of thousands of new jobs, help ensure our energy independence, eliminate China’s influence on the world stage, and cut the carbon pollution that drives it. of billions of dollars in climate damage to the American homeland. .

Moving forward, there are a number of potential investments and responses that US policymakers and innovators can make. However, any serious response must harness the full entrepreneurial and innovative power of the US market. Most importantly, this means putting a price on carbon.

Preferred by businesses and innovators, this approach would establish a clear, economy-wide incentive through a gradual increase in the payment of carbon emissions. This will create a level playing field for energy innovation and competition, and give the private sector the stability and predictability it needs to invest with confidence in clean energy technologies.

This approach differs from the leftist approach to energy innovation, which often relies on regulatory red tape and the government to pick winners and losers. These heavy-handed policies are not only expensive and slow, but they also fail to stimulate the private sector growth and innovation needed to accelerate China’s future.

A price on carbon could be designed to further improve America’s competitiveness. Because of our strong environmental standards here in the US, other countries are currently undercutting American manufacturers by producing cheaper products with lax regulations. In fact, products made in China are on average three times more carbon intensive than those made in America.

If a US carbon price were paired with a border adjustment — a comparable charge on high-polluting goods abroad — we could finally hold other countries to the same standards. , which will give American manufacturers a competitive advantage. This will reduce China’s economic influence and bring jobs and manufacturing back to the US

The US has much to gain from taking the lead on this issue. From ensuring energy security, to reducing pollution, to growing our economy, the geostrategic benefits are enormous – and they will determine the balance of power in the 21st century and beyond. It’s time for America to play sin and show China what we’re all about.

Victoria Vincent is the National Committeewoman for the Utah Young Republicans, an organization representing young conservative professionals throughout the Beehive State.