JENNIFER GRANHOLM

UNITED STATES SECRETARY OF ENERGY

How is the Inflation Reduction Act (IRA) incentivizing decarbonization?

President Biden’s agenda (including the IRA and Bipartisan Infrastructure Law) is the most historic legislation any country has taken on climate and will collectively do most of the work necessary to not just meet the President’s aggressive climate goals, but also build a whole new clean energy economy. These laws will provide over half a trillion dollars in new clean energy investments, and will also require significant investment from the private sector. That level of investment will propel clean energy deployment and innovation like never before. It will significantly bring down costs for zero carbon technologies, which in turn will benefit not just the U.S., but the entire world.

With massive incentives to invest in U.S. manufacturing, we are already seeing dozens of new onshoring investments from the private sector. Our goal is to have 100% clean power on our electric grid by 2035.