The United States Inflation Reduction Act, widely critiqued for a misleading name, has spurred the fastest growth ever for clean energy.
In the first year since it was announced, clean energy in the US has seen record breaking growth in nearly every area.
By the numbers:
- 80+ new clean energy facilities have been announced in the United States across wind, solar and battery storage
- There has been $271 billion in new investment, which is equivalent to the last eight years of investment in clean energy in the United States combined
- Approximately 30,000 new jobs have already been created to support new developments and infrastructure
Why it matters:
- The United States federal clean energy incentives are one of the most significant pushes towards achieving net zero emissions, spurring companies to move towards adopting clean energy
- Legacy energy companies are taking notice, expanding their plans innovation and investment in wind and solar
- Clean energy tax credits have dramatically lowered the costs of developing new clean energy infrastructure, which allows for savings to be passed down to the individual user due to lower utility cost
- The United States is rapidly becoming the most attractive geographic location for entrepreneurs building the future of the energy transition and will likely be on the leading edge of both talent and capital