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Utility Dive: Senate passes Inflation Reduction Act with $369B in energy and climate spending

Posted by Ethan Howland on Aug 8, 2022

Utility Dive reported on the Senate approval of the IRA, quoting AEE's Nat Kreamer on how tax credits will benefit clean energy developers. Read snippets below and the full article here.

The Senate approved the Inflation Reduction Act on a party-line vote Sunday, sending the bill to the House of Representatives for a scheduled vote on Friday.

The bill’s refundable and transferable tax credits will allow renewable energy developers to move more quickly on their projects, according to Nat Kreamer, Advanced Energy Economy CEO.

“Global inflation in fossil fuel costs underscores the need to speed up development of advanced energy projects and modernize our power grid,” Kreamer said in a statement.

The bill contains a range of incentives and tax credits to spur emissions-free energy, electric vehicles, nuclear power and clean hydrogen, among other things.

Read the full article here.

Topics: Federal Policy, AEE In The News, Nat Kreamer