Time to pass on wind, solar subsidies to emerging technologies: Bill Gates

US states including New York, New Jersey and Massachusetts see proposed offshore wind farms in the Atlantic Ocean as crucial ingredients to phase out fossil fuels and fight climate change

It’s time wind and solar passed their subsidies along to emerging technologies that need them more, Microsoft Corp. co-founder Bill Gates says.

After decades of government incentives, wind and solar have been deployed widely enough for manufacturers and developers to become increasingly efficient and drive down costs. Now they can probably survive without them, Gates said in an interview with Bloomberg Television.

“The tax benefits there should be shifted into things that are more limiting, like energy storage, offshore wind -- which still has a huge premium price,” said Gates, who co-chairs a global group of business, political and scientific leaders formed