The Inflation Reduction Act

Copyright 2022 - The Energy Show, Barry Cinnamon This week’s Energy Show podcast is about the IRA. Even if you’re retired or Irish, the inaptly-named Inflation Reduction Act is the most important legislation for clean tech ever. We’ll talk about the big picture of U.S. energy generation and use, and then delve into how much homeowners can save with the incentives in the IRA. I downloaded all 755 pages of this bill so I could check the legal details in the fine print (DeVinne 18 pt). Congress threw the entire clean tech kitchen sink into the IRA, along with some much-needed social programs. There is no doubt in my mind that the IRA will accelerate the transition away from fossil fuels – particularly as homeowners electrify their homes and stop using gasoline and natural gas. The IRA has the potential to reduce U.S. emissions by 42% by 2030. Nevertheless, ten years from now the climate will still be hotter. Moreover, accelerated utility investments in electric generation infrastructure will likely double electric rates, accentuated by utility efforts to recapture losses from stranded fossil fuel assets. It will take an all-hands-on-deck effort -- on a worldwide basis -- to deploy the necessary technologies to reverse global warming. The IRA is just a start for the U.S. To hear a summary of the key homeowner provisions of the IRA, please listen to this week's Energy Show.