We’re seeing the impacts of climate change every day, with dire implications around the world. It’s time for our nation to begin in earnest to fulfill our duty and meet our pledges to the world that we will reduce our climate pollution in half by 2030. The Inflation Reduction Act puts us on a path to realizing this target, getting us halfway or two-thirds of the way to the goal.
Chris Carnevale | August 5, 2022 | Clean Transportation, Climate Change, Energy Efficiency, Energy Justice, Energy Policy, Solar, Wind
Congress is on the cusp of passing the biggest climate investment in history. The Senate could vote as early as this weekend on the Inflation Reduction Act, which would invest in boosting manufacturing and deployment of clean energy, energy efficiency, electric transportation, and more.Early analysis of the bill shows that it will enable our country to achieve climate pollution reductions of approximately 40% below 2005 levels by the end of this decade, save thousands of lives annually and improve our health through reduced pollution, lower our energy bills , and create more than a million new jobs.
The IRA bill would enable households and businesses to receive rebates and tax credits for energy efficiency improvements, installing solar or batteries, and switching to electric vehicles and electric home appliances. Targeted investments would be directed to low-income communities, rural areas, and disadvantaged communities. And importantly, eligibility for some key clean energy tax credits will be extended to nonprofit organizations, Native American tribes, and local and state governments.
Provisions in the bill ensure that tax credits for clean energy businesses reward companies that pay workers well, use USA-made content, or locate projects in low-income or energy transition communities, amplifying the beneficial impacts of the policies for our communities.
The bill is of course not perfect. It doesn’t go as far as a federal clean energy policy should, and it even includes some provisions that support risky fossil fuel and nuclear energy. But the climate pollution reductions from investments in clean energy are estimated to outweigh the emissions from oil and gas provisions 24-to-1. We can’t let perfection stand in the way of immense progress.
We at SACE are continuing to analyze the bill and we will be sure to let you know about our findings in future blog posts, but for now, it is clear that passage of this bill is critically important to confront the climate crisis.
We’ve been advocating for climate action for decades and have never been this close to as meaningful of climate legislation as this bill represents. We’re seeing the impacts of climate change every day, with dire implications around the world. Across the country and around the world, historic heat, drought, famine, fires, and floods exacerbated by climate change are blaring alarms that people are dying and quality of life is suffering from inaction on curbing dangerous warming from pollution from burning fossil fuels. Our communities are calling for action.
It’s time for our nation to begin in earnest to fulfill our duty and meet our pledges to the world that we will reduce our climate pollution in half by 2030. The Inflation Reduction Act puts us on a path to realizing this target, getting us halfway or two-thirds of the way to the goal.
This bill is simply too important an opportunity to miss, and with votes coming as soon as this weekend, NOW is the time that we all need to contact our members of Congress and encourage them to vote yes.
So please, raise your voice today and ask your members of Congress to get this climate investment package over the finish line!