Two years have passed since President Biden signed the Inflation Reduction Act (IRA) into law. Its investments carry the potential to accelerate the pace of the domestic energy transition and move the United States closer to its target of a 50-52 percent reduction in emissions by 2030. But the effectiveness of its provisions, and its global reception are still up for debate.

From mineral supply chains and clean electricity to political considerations and overseas perspectives, our experts offer their thoughts on the law, discussing its successes, its implications, and its areas for improvement.

editor’s picks

Inflation Reduction Act

New Atlanticist Aug 15, 2024

The IRA two years on: A signpost of the new economic policy consensus

By William Tobin

Signed in August 2022, the Inflation Reduction Act has prompted global competition among governments to make public investments in emerging industries and technologies.
Economy & Business International Markets
Inflation Reduction Act

EnergySource Aug 7, 2023

A year after the IRA, industrial policy has gone global. Now what?

By David L. Goldwyn, Andrea Clabough

The domestic impacts of the IRA are undeniable. It is less certain what it means for the global energy transition. One year later, officials must prioritize opportunities to align with like-minded allies overseas.
Energy & Environment Energy Transitions
Inflation Reduction Act

EnergySource Aug 16, 2023

One year after the IRA, the hard work to build resilient mineral supply chains is only beginning

By Reed Blakemore, Paddy Ryan

Twelve months since the IRA’s bet big on alternative mineral supply chains, the clean energy commodities market is changing. Washington’s strategy must change along with it.
Energy & Environment Energy Transitions

One year later: The global implications of the US’s climate law

Our experts share the successes and challenges still facing the implementation of the landmark Inflation Reduction Act one year later, signed into law by President Biden in August 2022.

EnergySource

Sep 11, 2023

The IRA’s best kept climate secret: Moving oil and gas toward operational net zero 

By William Tobin

The IRA contains a suite of provisions to help oil and gas move toward scope one and two climate neutrality, potentially comprising some of the law’s most impactful climate measures.

Energy & Environment Energy Transitions
Salar de Olaroz Lithium Mine, Argentina

EnergySource

Aug 16, 2023

One year after the IRA, the hard work to build resilient mineral supply chains is only beginning

By Reed Blakemore, Paddy Ryan

Twelve months since the IRA’s bet big on alternative mineral supply chains, the clean energy commodities market is changing. Washington’s strategy must change along with it.

Energy & Environment Energy Transitions
Nordex USA wind-turbine nacelle manufacturing plant, Jonesboro, Arkansas

EnergySource

Aug 15, 2023

Post-IRA, offshore wind has become a partisan lightning rod. Here’s how to fix that.

By Joseph Webster

Linking offshore wind to complementary industries may help de-politicize the technology. The most important way for the offshore wind industry to ensure bipartisan buy-in, however, is to reduce consumer costs.

Climate Change & Climate Action Energy & Environment
Aerial photograph of an oil tanker

EnergySource

Aug 14, 2023

The IRA is strengthening the United States as a low-emission oil and gas superpower

By Joseph Webster

The lRA not only strengthens US leadership in global decarbonization efforts—it also makes the United States an even more powerful actor in oil and gas geopolitics.

Energy & Environment Geopolitics & Energy Security
California Home Solar

EnergySource

Aug 14, 2023

The IRA is transforming the US energy system—starting with homes

By Julia Pyper

One year after the IRA, the collective actions of households are powering a historic effort to modernize the US energy system by increasing system resilience, accelerating decarbonization, and bolstering economic stability. 

Climate Change & Climate Action Energy & Environment
Person counting dollar banknotes

EnergySource

Aug 10, 2023

Can IRA spending really throttle energy inflation?

By Charles Lichfield

Expanding the federal deficit risks exacerbating inflation, regardless of the long-run cost savings wise energy investments could bring.

Economy & Business Energy & Environment
Rooftop solar garden

EnergySource

Aug 10, 2023

Launching the IRA’s Greenhouse Gas Reduction Fund could lessen the energy burden for low-income communities

By Ken Berlin, Frank Willey

To maximize the benefits of the GGRF, stakeholders should prioritize projects that most reduce the energy burden in low-income communities and address the barriers to investing in low-income communities.

Climate Change & Climate Action Energy & Environment
Man holding an incandescent bulb.

EnergySource

Aug 9, 2023

The IRA supercharged US R&D. But does it go far enough?

By William Tobin

The IRA intends to stake a claim for US leadership in decarbonization by providing much needed funding for key clean energy research programs. However, US R&D spending has still not reached parity with historical levels.

Climate Change & Climate Action Energy & Environment
Protesters in Germany hold a sign reading "Save the energy transition! Sun and wind instead of fracking, coal and nuclear!"

EnergySource

Aug 9, 2023

The IRA challenges the European climate model

By Friedbert Pflüger

Europeans are starting to realize their leadership in the energy transition is not as secure as previously believed. They are seeing the profound competition posed by the IRA—and the economic forces it unleashes.

Climate Change & Climate Action Energy & Environment
Solar panel installation in Oregon, courtesy of OregonDOT

EnergySource

Aug 8, 2023

To deliver on IRA objectives, expand the clean energy workforce

By Paddy Ryan, Maia Sparkman

Upskilling and growing the US labor force for the clean energy transition is a must for delivering the economic and climate objectives of the Inflation Reduction Act.

Climate Change & Climate Action Energy & Environment
The U.S. Capitol

EnergySource

Aug 7, 2023

A year after the IRA, industrial policy has gone global. Now what?

By David L. Goldwyn, Andrea Clabough

The domestic impacts of the IRA are undeniable. It is less certain what it means for the global energy transition. One year later, officials must prioritize opportunities to align with like-minded allies overseas.

Energy & Environment Energy Transitions

Quick reactions: The IRA’S successes, implications, and areas for improvement

In August 2022, our experts offered timely commentary on the passage of the ambitious IRA, and provided insight on what may come. Read their analysis below. 

EnergySource

Dec 5, 2022

A nascent US offshore wind strategy? Permitting reform and the Inflation Reduction Act

By Joseph Webster

US strategy on offshore wind is steadily evolving. The attendant changes could lay the groundwork for emergence as an offshore wind powerhouse.

Energy & Environment Energy Markets & Governance

EnergySource

Oct 31, 2022

The Inflation Reduction Act’s impact on the US oil and gas industry

By Joseph Webster

The IRA will ratchet up competition in energy production with which the US oil and gas industry will have to contend, across any number of functional niches. But several of its provisions also represent opportunities for the industry to smoothly transition to a fresh role in the US energy sector.

Energy & Environment Energy Transitions

EnergySource

Oct 25, 2022

Does the IRA make US offshore wind the “next big thing?”

By Joseph Webster and Elina Carpen

The Inflation Reduction Act sets the US clean energy industry up for rapid expansion, and offshore wind is no exception. Additional legislation could close remaining gaps and drive US offshore wind to the head of the energy transition.

Climate Change & Climate Action Energy & Environment

EnergySource

Sep 28, 2022

Establishing a national green bank with the GHG Reduction Fund will reduce emissions, promote environmental justice

By Ken Berlin

The Inflation Reduction Act creates a $27 billion Greenhouse Gas Reduction Fund to accelerate the United States’ energy transition—and ensure that the transition is an equitable one. Capitalizing a national climate bank would provide a long-term, comparatively low-cost solution to reduce the United States’ reliance on fossil fuels and its greenhouse gas emissions.

Climate Change & Climate Action Energy & Environment

EnergySource

Sep 20, 2022

The Inflation Reduction Act will accelerate clean hydrogen adoption

By Joseph Webster

The IRA makes the production of clean hydrogen far more attractive to investors and generators. Carbon-free hydrogen could fall dramatically in cost by the end of the decade, greatly increasing its competitiveness against dirtier hydrogen sources.

Energy & Environment Energy Markets & Governance

EnergySource

Aug 23, 2022

Amplifying the IRA: Prioritizing investment in US agricultural innovation

By Maia Sparkman

The lack of meaningful investment in next-generation agriculture in the IRA leaves US crops vulnerable to climate change, endangers US market competitiveness, and allows the sector’s emissions to continue unabated. Policymakers need to be more forward-thinking to set the US agricultural sector up for success.

Energy & Environment United States and Canada

EnergySource

Aug 17, 2022

International cooperation is critical to the IRA’s climate and energy security impact

By Olga Khakova

Cooperation with allies could greatly amplify the impact of the Inflation Reduction Act. But it will take additional support to empower US agencies to forge partnerships and make global progress.

Energy & Environment Energy Transitions

Econographics

Aug 16, 2022

US climate spending may soon match that of developed peers

By Sophia Busch, Carrie Hsu

Now that the US has passed the Inflation Reduction Act, its spending commitments on climate adaption and mitigation may match those for the UK and EU through 2025.

Economy & Business United Kingdom

EnergySource

Aug 16, 2022

The Inflation Reduction Act gives carbon removal a big boost

By Calli Obern

The IRA sets the US carbon removal industry up for sustained, broad-based success. But its provisions must be accompanied by community efforts and more targeted policy.

Energy & Environment Energy Transitions

New Atlanticist

Aug 11, 2022

The Inflation Reduction Act sends a foreign-policy message to US friends and foes alike

By Andrea Clabough

The strategic implications of this bill can hardly be overstated. Here’s why.

Climate Change & Climate Action Economy & Business

EnergySource

Aug 10, 2022

The Inflation Reduction Act reinforces nuclear energy’s role as a climate solution

By Stephen S. Greene

The IRA provides much-needed support to the US nuclear energy sector. Its provisions will allow the continued operation of existing reactors along with the development of next-generation projects.

Energy & Environment Nuclear Energy

EnergySource

Aug 10, 2022

Does the Inflation Reduction Act take the right approach to shoring up clean energy supply chains?

By William Tobin, Daniel Helmeci, and Selin Kumbaraci

The IRA houses two distinct approaches to building up domestic and friendly clean energy supply chains. The approach based on incentives is likely to be more effective than the one based on penalties.

Energy & Environment Energy Markets & Governance

EnergySource

Aug 9, 2022

The balance President Biden needed: How the IRA achieves a durable energy and climate policy

By David L. Goldwyn

The Biden administration and the Democratic Party stand to benefit greatly from the passage of the IRA. The bill’s balanced approach to clean energy deployment and support for the US oil and gas sector makes it a political winner.

Energy & Environment Energy Transitions

EnergySource

Aug 8, 2022

How to build on the Inflation Reduction Act and incentivize truly clean electricity

By Ameya Hadap

The production tax credits in the Inflation Reduction Act will lift up every carbon-free source of electricity in the United States. But there is no guarantee these clean energy sources will actually displace carbon from the grid. More legislation is needed to build on the bill and close the gap between clean energy deployment and carbon mitigation.

Energy & Environment Energy Transitions

EnergySource

Aug 8, 2022

The Inflation Reduction Act places a big bet on alternative mineral supply chains

By Reed Blakemore, Paddy Ryan

The Inflation Reduction Act’s consumer electric vehicle tax credit will create strong demand for alternative minerals, sourced and processed outside of existing supply chains. The ability for these alternative supplies to meaningfully diversify mineral value chains hinges on further investment and policymaking effort.

Energy & Environment Energy Markets & Governance

discussions

Congressman Raja Krishnamoorthi and Julia Pyper discuss the Inflation Reduction Act at the Veterans Advanced Energy Summit

At the 6th annual Veterans Advanced Energy Summit held on August 9, 2022, the military community and energy professionals convened to discuss the technology, policy, and economic trends that are driving the global energy transition.

The Summit was joined by Congressman Raja Krishnamoorthi (D-IL 8th District) and David Livingston, senior advisor to US Special Presidential Envoy for Climate John Kerry, among others, to discuss the Inflation Reduction Act, the signing of the CHIPS and Science Act into law, and more.

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