I believe the common name for this approach is "fee and dividend". I'm surprised I don't see it discussed very much. I would think that it should be palatable across the political spectrum.
IMF says "Globally, subsidies remained large at $4.7 trillion" https://www.imf.org/en/Publications/WP/Issues/2019/05/02/Glo...
Seems a fat regressive subsidie...
The solution is to shift taxes and benefits rather than just adding new ones.
In contrast, if one or more countries develop a cheaper, clean technology that can be exported globally (perhaps at a cost) all countries would be incentivized to switch to it to save costs, and emissions start to plummet.
We need a full court press on getting to next-generation energy sources that stand to be 10x cheaper than existing ones. I'm not sure if you can get there with solar and other renewables alone, but from first principles (ie physics) it sure seems tractable to get there with some combination of nuclear technology and those sources.
https://en.m.wikipedia.org/wiki/Carbon_fee_and_dividend#Unit...
But of course they wouldn’t put one in without excluding everyone powerful enough to make a fuss about it.