08/17/2022
Inflation Reduction Act Impacts:
The Inflation Reduction Act has officially been signed into law as the most significant investment America has ever made in its climate and energy future. This legislation sets the stage for businesses to hire hundreds of thousands of new workers in every community to manufacture and deploy historic levels of clean, low-cost electricity. SEIA outlines the impact of the IRA: https://bit.ly/3QXC5PR
The solar industry set a goal to account for 30% of all U.S. electricity generation by 2030, and the passage of the Inflation Reduction Act sets us on a path to reach that target. The policy certainty provided by the IRA will allow companies to build out America’s clean energy economy with historic deployment, domestic manufacturing, investments in low-income communities, energy storage, smoother interconnection, and so much more. This is just the beginning. Learn more: https://bit.ly/3QXC5PR
America can’t miss out on the opportunity of domestic solar manufacturing. Our climate, economic, and national security goals depend on it. With the Inflation Reduction Act of 2022, companies have the policy certainty they need to build a robust U.S. solar supply chain, providing more American-made products to customers and doubling the amount of solar manufacturing jobs across the country. Learn more: https://bit.ly/3QXC5PR
Powered by clean energy, the United States now has the tools to reduce emissions 40% by 2030 with the Inflation Reduction Act. There is still work to do, but by investing in technologies like solar and storage, we can lead the world on climate action while creating hundreds of thousands of American jobs and lowering energy costs for families. This is a historic moment.
On August 16, 2022, the Inflation Reduction Act (IRA) was signed into law by President Biden after passing both chambers of Congress. This summary reflects what is in the final draft of this legislation.
