The Inflation Reduction Act: Better Than You Might Think
President Biden recently signed the IRA, authorizing $369 billion in climate and energy incentives. While many environmentalists argue that the bill is not enough or contains too many compromises, on balance it’s a strong step in the right direction. Here’s why:
- The funding will go farther than in the past.
The funding in the IRA is small when compared with the original Build Back Better Act, and is about half the size of the infrastructure bill Congress passed last year. But the cost of solar and wind has dropped by 90% in the last 10 years and the risks and costs of [… continue reading]