At low levels of tax, we might see substitution of a lower-carbon fossil fuel, natural gas for coal for example, while at higher tax levels renewable generation could be substituted for fossil fuel-fired generation.
(we; might see; substitution of a lower-carbon fossil fuel, natural gas for coal for example; L:At low levels of tax) (renewable generation; could be substituted; for fossil fuel-fired generation; L:at higher tax levels)
we renewable generation
might see could be substituted
substitution of a lower-carbon fossil fuel, natural gas for coal for example L:At low levels of tax
for fossil fuel-fired generation L:at higher tax levels