How a half-trillion dollars is transforming climate technology

Last edited Wed Aug 16, 2023, 04:08 PM - Edit history (1)

Checking in with the landmark Inflation Reduction Act, one year later.
By Casey Crownhart
August 16, 2023
https://www.technologyreview.com/2023/08/16/1078014/ira-funding-one-year-climate-technology/
(clear history/cookies if you are over their soft paywall limit)

A half-trillion dollars is starting to work its way through the US economy, remaking climate technology along the way.

One year ago, the Inflation Reduction Act was signed into law, marking the most significant action on climate change to date from the federal government. The legislation set aside hundreds of billions of dollars to support both new and existing technologies—from solar panels and heat pumps to batteries for electric vehicles—in an effort to slash costs for clean technologies and cut greenhouse gas emissions that cause climate change.

Experts say the IRA has already begun making waves across the economy, most visibly through a steady stream of company announcements unveiling new manufacturing facilities in the US. However, the most significant effects from the legislation are still to come, as many of the programs are designed to last for a decade or longer. There are even some remaining questions about how key pieces of the bill will play out, including which projects will be eligible for heavily debated tax credits for hydrogen fuel.

Here's what you need to know about where US policy on climate technology stands after one year of the Inflation Reduction Act, and what to watch for next.

“There really isn’t a day that goes by without an announcement,”


WAIT! THERE'S MORE
https://www.canarymedia.com/articles/clean-energy-manufacturing/the-us-climate-law-is-fueling-a-factory-frenzy-heres-the-latest-tally
The US climate law is fueling a factory frenzy. Here’s the latest tally
In just 12 short months, Biden’s Inflation Reduction Act has spurred more than 100 new cleantech manufacturing announcements and nearly $80B in private investment.


Cross-posted to GD