Since passage, it has boosted the U.S. transition to renewable energy, accelerated green domestic manufacturing, and made it more affordable for consumers to make climate-friendly purchases.
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.
The IRA is America’s most significant response to climate change, after decades of lobbying by oil, gas and coal interests stalled action, while carbon emissions climbed, creating a hotter, more dangerous world. It is designed to spur clean energy buildout on a scale that will bend the arc . It also aims to build domestic supply chains to reverse China’s and other nations’ early domination of this vital sector.
Derrick Flakoll, North America policy associate at Bloomberg NEF, pointed out that sales at the largest manufacturer of solar panels in the U.S., First Solar, skyrocketed after the law passed, creating a big backlog of orders. . “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.
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