PA Boosts Clean Energy through Inflation Reduction Act Funding

A year since the Inflation Reduction Act of the Biden administration was signed into law, Pennsylvania is already experiencing the benefits of the funding. This revolutionary law that significantly supports clean-energy efforts through tax incentives, grants, and loan guarantees, is allocating $370 billion to Pennsylvania’s green energy goals.

With the ambition of achieving 100% clean energy by 2050, the Keystone State is finding the Inflation Reduction Act pivotal to making this dream a reality.

The environmental watchdog group, PennFuture, has Annie Regan as the campaign director. She asserts that Pennsylvania has received over $300 million due to the combined effect of the Inflation Reduction Act and the Bipartisan Infrastructure Law.

Regan further reports that multiple projects in Pennsylvania are already profiting from these funds. “We are already seeing the benefits of the Inflation Reduction Act as it is helping to lower energy costs for families in Pennsylvania. We expect savings to range from $300 to $1,800 annually,” Regan explains.

She also noted that the funding has already facilitated the addition of 64 electric school buses across seven school districts in the state, with more than $19 million in rebates. Notably, critics, mostly Republicans, have expressed concerns about the Act’s potential impact on the U.S. budget deficit and job losses in the oil and gas sector.

But Regan is confident that the law’s funding is pushing Pennsylvania towards a Green Revolution, bringing not only cleaner air but also economic growth and opportunities. “We’re expecting to see a $270 million investment in large-scale clean power generation and storage in Pennsylvania by 2030. Plus, the law will provide $30 billion in tax credits to spur domestic production of solar panels, wind turbines, batteries, and critical minerals processing,” she highlights.

Regan’s group, along with ReImagine Appalachia, are striving to ensure all states in their region benefit from federal funding for renewable energy prospects, particularly focusing on communities in need.

“Our objective is to create high-paying, sustainable union jobs with these federal climate investments. The environmental movement has seen a shift towards not just creating clean energy, but also ensuring it’s done correctly, involving union labor,” Regan points out.

The substantial law also encompasses funds to modernize the nation’s power transmission systems and tax credits for projects that use American-made steel and iron, expected to create more jobs in these sectors.