Green Energy Ohio Board member Dr. Robert McCollister has written a summary of the clean energy and climate change provisions of the Inflation Reduction Act (IRA) as they relate to consumers, utilities, manufacturers, rural communities, finance, and environmental justice.
Dr. McCollister is chair of the Program Committee and leads GEO climate initiatives. The introduction to his summary is shown below; the complete document can be found through the GEO website.
President Biden has signed the Inflation Reduction Act, a sweeping piece of legislation that includes health care, tax, and energy and climate provisions.
After years of discussion and months of negotiation, Congress passed legislation to address critical issues facing the country, including measures to combat climate change.
The Inflation Reduction Act (IRA) is an ambitious law that follows in a long tradition of federal government actions throughout American history to shape markets and promote emerging technologies. New technologies can transform our economy, create jobs and economic growth, enhance our national security, and mitigate the effects of the most complex environmental challenge mankind has ever faced – the climate crisis.
In the past, government action has encouraged the development of railroads, aviation, telecommunications, space exploration, and the electricity grid, among other cutting-edge technologies. The IRA is another example of government policy encouraging markets to move in a direction that makes America stronger and more prosperous.
For the detailed summary of IRA provisions click here.