It should have been tripled
TL/DR –
The Inflation Reduction Act (IRA) has helped the U.S. reduce its carbon pollution by 4% annually since its passage in 2022, double the rate from the previous year. The IRA and Bipartisan Infrastructure Law provided $239 billion in funding for clean energy, electric vehicles, building electrification, carbon management and tax breaks for green home renovations. However, some experts believe the law hasn’t done enough to meet the 2030 climate goals and that certain sectors such as hydrogen, carbon sequestration, geothermal, and nuclear have fallen behind.
U.S. Carbon Pollution Slashed by Inflation Reduction Act Despite Shortcomings
A 2023 study reveals the Inflation Reduction Act (IRA) helped the U.S. decrease its carbon pollution by 4% annually since 2022. However, critics argue the law hasn’t done enough.
With the IRA and Bipartisan Infrastructure Law, the U.S. secured $239 billion in clean energy funding. This facilitated tax breaks for Americans to pay for sustainable home renovations and stimulated electric vehicle purchase.
Despite this, some experts believe the law’s impact is inadequate for achieving the country’s climate targets. Jesse Jenkins, a study participant, commented, “The IRA doubles the pace of reductions but should have tripled it to hit our 2030 climate goals.”
Challenges include restrictive state and local regulations and the slow development of the country’s EV charging station network. Additionally, while some industries have benefited, others, such as hydrogen and nuclear, have lagged.
Even with these shortcomings, the IRA has encouraged significant strides in reducing the U.S.’s carbon footprint. It spurred adoption of clean energy technology and facilitated green home renovations, a critical move towards averting extreme climate change impacts, as stressed by the United Nations.
Despite weather-related challenges like rising food staple prices and devastating forest fires, California-based Energy Innovation CEO Sonia Aggarwal sees a promising future with the IRA. She expressed that the law has “completely changed direction on our energy policy.”
Heather O’Neill, head of Advanced Energy United, echoed these sentiments, stating that the IRA acted as “rocket fuel” for the industry.
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