Today marks the one-year anniversary of the Inflation Reduction Act
TODAY marks the one-year anniversary of the Inflation Reduction Act (IRA)—the most ambitious clean energy and climate investment in our nation’s history. Here’s a look back and a look forward on this special day.
What’s been accomplished:
- Brought in $110B in clean energy investments since being signed into law.
- Lowered energy costs for homes & businesses.
- Created tax credits and upcoming rebate programs for energy-efficient home upgrades.
What’s to come:
- IRA + the Bipartisan Infrastructure Law (BIL) are projected to save American families $27B-$38B on electricity bills by 2030.
- Electricity generated from clean sources expected to increase from 42% in 2022 to 72-81% by 2030, thanks to IRA and BIL
- IRA and BIL expected to help drive energy-related emissions in the industrial & manufacturing sector down 33-42% below 2005 levels by 2030.
