On August 16, 2022, the United States enacted the most significant clean energy legislation in the nation’s history. The Inflation Reduction Act of 2022 (“IRA”) will be an outsized influence over investments across the energy landscape for the coming decade, and every participant in the U.S. energy market should be familiar with the key aspects of this new legislation.
IRA will provide hundreds of billions of dollars in direct government support for a vast range of energy infrastructure investments, from renewables like solar, wind, and geothermal power generation, to hydrogen and renewable natural gas production, carbon capture, electric vehicles and charging infrastructure, energy storage, sustainable fuels, and countless energy efficiency investments. This direct government support will facilitate trillions of dollars of investment in U.S. energy infrastructure over the coming decade.
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