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RTO Insider: Senate Passes Inflation Reduction Act

Posted by K. Kaufman on Aug 7, 2022

RTO Insider reported on the passage of the IRA in the Senate, quoting AEE's Nat Kreamer on the importance of this legislation for clean energy. Read snippets below and the full article here.

Following a marathon overnight session of debate and amendments, the U.S. Senate on Sunday passed the Inflation Reduction Act with all of its $369.75 billion in clean energy spending intact.Clean energy advocates were quick to applaud the bill’s passage and its clean energy incentives, ranging from various tax credits to incentives for big transmission projects and for consumers purchasing electric vehicles. 

“Rising inflation and global instability have put America’s energy security in jeopardy,” said Nat Kreamer, CEO of Advanced Energy Economy. “A federal clean energy investment of this magnitude is our best defense.”

Key clean energy provisions in the bill include extensions of the solar investment tax credit and wind production tax credit, through the end of 2024, to be followed by technology-neutral clean-energy credits that will provide incentives for renewables, nuclear and green hydrogen.

Read the full article here.

Topics: Federal Policy, AEE In The News, Manufacturing and Infrastructure, Nat Kreamer