$369 billion in investment incentives to address energy security and climate change
16 Aug 2022
On 16 August 2022, the president of the United States signed the Inflation Reduction Act into law. The law includes about 369 billion USD in incentives for energy and climate-related programs, including:
- Tax credits, research loans, and grants to increase domestic manufacturing capacity for wind turbines, solar panels, batteries, electric vehicle and other essential components of clean energy production and storage;
- Clean electricity production and investment tax credits as well as grants and loans for clean energy infrastructure, including electric transmission development;
- Clean manufacturing tax credits to reduce emissions in energy intensive industries, increase energy efficiency in manufacturing as well as manufacturing conversion grants;
- Programs to reduce the environmental impact of agriculture.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Not industry specific (SDG)
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Not industry specific (SDG)
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Primary (Agriculture, forestry and fishing)
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Manufacturing
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Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Construction, Transportation and storage)
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Sources:
