Happy Anniversary, Inflation Reduction Act!
By J.R. Tolbert
Today is the one year anniversary of President Biden signing the Inflation Reduction Act (IRA). This law is, as the president would say, a BFD. It is a historic investment in the clean energy transition, and this day is worth celebrating. Let’s dig in to see what the bill has achieved and what’s next.
Achievements
The Inflation Reduction Act is the most significant climate legislation in United States history, so there is a lot to celebrate! You may be a clean energy supporter because it is healthier for your family and the climate, but the IRA made sure that clean energy is a smart investment too. There are three primary buckets where the IRA made strides on clean energy.
The IRA made large scale projects in clean energy cheaper
The Inflation Reduction Act allocated billions in funding for clean energy projects and has spurred billions in new investment from the private sector while creating over 170,000 new jobs (and counting). Since passage, 272 clean energy projects have been announced across the country stimulating economic development and hastening our clean energy transition. This investment has come from both private companies and the federal government. It has spanned red states, blue states, and purple states, so everyone is seeing the benefits from the law.
The IRA empowers consumers to make smart investments
First, you can get possible savings by making clean energy choices. Check out the Department of Energy’s Savings Hub to see all of the upgrades you can make in your apartment or home. An action like buying new lightbulbs is quick and you see the savings immediately. Other upgrades can mean tax credits or rebates.
Also, the IRA invests in the supply chain. If you want to buy a heat pump, it’s easier than ever to buy American-made at an affordable price.
The IRA makes the clean energy transition more accessible to consumers
Other pieces of the law put money back in your pocket. If you switch from a furnace to a heat pump, buy an electric stove or dryer, or buy an electric car, you may be eligible for savings. Check out the Department of Energy’s Savings Hub to see all of the benefits.
Challenges
Despite projects being funded across the country, some Republicans are still trying to overturn this legislation. For over a month, House Republicans threatened not to raise the debt ceiling — a regular procedural vote — unless parts of the IRA were overturned. Counterspark supporters fought back then, and when you join, we’ll make sure you can make your voice heard any time a politician attacks clean energy.
What’s Next
After last year’s big federal law, action has turned to the states. States can leverage incentives from the Inflation Reduction Act to make going clean easier for their residents.
Further, many states are moving forward on other clean energy projects. More and more states are implementing 100% clean energy laws — most setting 2045 or 2050 as their deadline. And law by law, we are making progress. This year alone, the POWER Act in Maryland created an enormous offshore wind project, Michigan’s budget invested in clean energy, and many states — like Arizona and Massachusetts — have created cabinet-level positions for climate. Counterspark supporters sent notes to their state legislators in those fights.
Whether your state has made recent progress on clean energy or still has a long way to go, Counterspark is there with you for the next step. We always have multiple campaigns active on our site — some at the federal level and others that focus on legislation in a specific state.
What Can I do?
The Inflation Reduction Act does a lot to advance clean energy, but not everyone knows about it. Celebrate the anniversary by telling a friend — either in person or by sending this to them in a text or email.
Second, if you haven’t already, join us at Counterspark. The Inflation Reduction Act really paved the way for clean energy action, but we still have work to do to get to 100% clean energy. Toast the IRA today, and we’ll be in your inbox in the next few days to let you know the next steps you can take in your area.
