The only worthwhile “efficiency” initiatives are the ones that pay for themselves. Attempting to promote/hype one or the other with subsidies and tax benefits has consequences in Bastiat’s “unseen” sphere: the opportunity costs, the uses of capital now deflected that will never occur. The most obvious and dramatic modern reality-proof is the Spanish govenment report on the Spanish GreenJobs initiative. Each GreenJob cost 2.2 jobs elsewhere in the economy. It’s a rolling disaster.
