Impacted families and experts weigh-in on how the U.S. climate law, which passed one year ago, has helped promote clean energy usage.
FRANKFORT, Ky. — On a recent day under the July sun, three men heaved solar panels onto the roof of a roomy, two-story house near the banks of the Kentucky River, a few miles upstream from the state capitol where lawmakers have promoted coal for more than a century.ago offers a 30% discount off this installation via a tax credit, and that’s helping push clean energy even into places where coal still provides cheap electricity. For Heather Baggett’s family in Frankfort, it was a good deal.
“We’ve been talking about bringing manufacturing jobs back to America for my entire life. We’re finally doing it, right? That’s pretty exciting,” he said. “When the federal government makes an investment, we get to the tipping point faster,” said Barbara Humpton, CEO of Siemens USA, adding that the company has invested $260 million in battery or battery storage projects in recent years.The law also encourages more of the type of batteries that feed electricity to the grid when the wind is slack, or at night when the sun isn’t hitting solar panels.
. “The IRA accelerates the implementation of hydrogen at scale by about four to five years,” making the U.S. competitive with Europe, he said.“I think we’re about to see a quite a flood of investment in wind and solar-related manufacturing in the U.S.,” Jenkins said, adding that 2026 to 2028 is when the country will see the law’s full impact.
The Congressional Budget Office initially estimated the IRA’s tax credits would cost about $270 billion over a decade, but Brookings says businesses might take advantage of the credits far more aggressively and the federal government could pay out three or four times more.
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One year old, US climate law is already turbocharging clean energy technologyExcessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16
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One year old, US climate law is already turbocharging clean energy technologyExcessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16.
Weiterlesen »
One year old, US climate law is already turbocharging clean energy technologyExcessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16.
Weiterlesen »
One year old, US climate law is already turbocharging clean energy technologyExcessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16.
Weiterlesen »