Bitcoin will incentivize clean, renewable energy development. Bitcoin will incentivize higher efficiency electronic development. It will create jobs, clean the environment, and save all the babies, puppies, and rainbows!
This is my conclusion, people call PoW wasteful, but it will force us to value energy through a different economic lens and in turn make us truly environmentally efficient, and then with each halving Bitcoin will give back lots of energy if it is inefficiency used.