Clean Technology Cost Benefits From The Inflation Reduction Act
Clean technology has the potential to dramatically improve the economy by lowering energy costs and creating new jobs. We previously discussed how the Inflation Reduction Act (IRA) has already triggered $90bn in investment and created over 100,000 jobs.
The specific financial impacts from the IRA are starting to come into focus. Based on company guidance, the bill is expected to reduce average clean technology production costs by 40%. The biggest beneficiaries are for hydrogen and solar. This support will create further adoption momentum beginning late 2023.
