Economic Impact of Advanced Energy Investment From the Infrastructure Investment and Jobs Act and Inflation Reduction Act

Posted by Reports on Aug 11, 2022 9:47:11 AM

Publish Date: August 11, 2022

The Infrastructure Investment and Jobs Act of 2021 and Inflation Reduction Act of 2022 will deliver unprecedented investment in advanced energy deployment and production in the United States. Drawing on previous Advanced Energy United (previously Advanced Energy Economy) reports on federal stimulus proposals, this report estimates the economic impact of these two federal laws, both nationally and in 13 selected states. This analysis shows that the combined $444 billion invested through IIJA and IRA will stimulate an additional $1.2 trillion in private investment and result in:

  • $2.8 trillion in total incremental economic activity (GDP)
  • An increase in employment by 23 million jobs (in job-years)
  • $505 billion in tax collections, and
  • $60 billion in annual consumer savings

This would represent a six-fold return on investment of federal dollars in advanced energy growth.

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Topics: Federal Policy