Well, to the extent that there are connected people who are getting extremely wealthy by being the implementers of all of this crap, the money isn’t necessarily being “wasted”. It would be more accurate to say that it is being stolen, through fraud.
It’s being wasted because it is not being spent to increase our real electrical supply. The West is de-industrializing. Green energy is more expensive and unreliable. When you add renewables, you must still have increased capacity to back up the green energy when the sun isn’t shining or the wind is not blowing.
China is cleaning our clocks.
It’s been said this scam is the biggest wealth transfer in the history of the world. I do not doubt that. At this pace, it will easily beat cumulative American welfare payments.