Tag Archive for: climatelaw

Private investment in clean energy projects surged after President Biden signed an expansive climate bill into law last year.

Biden’s climate law is reshaping private investment in the United States

Private investment in clean energy projects like solar panels, hydrogen power and electric vehicles surged after President Biden signed an expansive climate bill into law last year, a development that shows how tax incentives and federal subsidies have helped reshape some consumer and corporate spending in the United States.

New data being released on Wednesday suggest the climate law and other parts of Mr. Biden’s economic agenda have helped speed the development of automotive supply chains in the American Southwest, buttressing traditional auto manufacturing centers in the industrial Midwest and the Southeast. The 2022 law, which passed with only Democratic support, aided factory investment in conservative bastions like Tennessee and the swing states of Michigan and Nevada. The law also helped underwrite a spending spree on electric cars and home solar panels in California, Arizona and Florida.

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Source: New York Times

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New data from the SEIA on private investment suggests the law's subsidies for manufacturing and generation are significantly boosting industry activity levels.

The new climate law is upending the solar landscape

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The year since passage of the big climate law has brought over $100 billion in U.S. solar and storage company investments.

Why it matters: New data from the Solar Energy Industries Association — a major industry trade group — on private investment suggests the law’s subsidies for manufacturing and generation are significantly boosting industry activity levels.

  • The chart above shows how SEIA and the consultancy Wood Mackenzie see the law boosting power projects.

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Source: AXIOS

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In less than a year, IRA has prompted investment in a massive buildout of battery and EV manufacturing across the states.

One year old, US climate law is already turbocharging clean energy technology

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.

The U.S. climate law that passed one year 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.

“For us, it’s not politically motivated,” said Baggett. “It really came down to financially, it made sense.”

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Source: The Daily

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At least $25.7B in new US clean-energy factories are in the works. Most of these projects and jobs are in traditionally conservative states.

Green factories are changing minds in more conservative US states

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At least $25.7 billion in new U.S. clean-energy factories are in the works, thanks in part to the generous subsidies in President Joe Biden’s landmark climate law. Most of these projects — and the jobs that come with them — are in traditionally conservative states.

In Dalton, Georgia, green energy hasn’t been a priority. Its congressional representative, Marjorie Taylor Greene, has said that “Earth warming and carbon is actually healthy for us.”

But a new solar-panel factory is changing minds in the city of 34,000. Indeed, the presence of new jobs is transforming solar power into a tangible community benefit.

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Source: The Seattle Times

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The IRA is going to transform America’s energy economy, and the forecasts show a wave of clean energy and manufacturing investments

US Solar installs to get 40% boost on climate law, report says

President Joe Biden’s sweeping climate legislation is expected to boost US solar installation, but lingering bottlenecks in the global supply chain and trade issues mean most gains won’t be realized until 2024.

Clean-energy developers are forecast to install more than 215 gigawatts of solar panels during the next five years, according to a report published Thursday from the Solar Energy Industries Association and Wood Mackenzie. That’s 40% more than the Washington-based trade group expected without the Inflation Reduction Act, the climate-friendly bill signed into law last month.

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Source: Bloomberg

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