Inflation Reduction Act

The Inflation Reduction Act (IRA) of 2022 marks a significant escalation in US climate ambitions. Its investments carry the potential to accelerate the pace of the domestic 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, which cut across every part of the US energy sector, 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 bill, discussing its successes, its implications, and its areas for improvement.

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 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

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

Read more from EnergySource

EnergySource provides analysis and insight on key energy issues, making sense of key energy trends and their implications for geopolitics, geoeconomics, policy, and markets.

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.

The Global Energy Center promotes energy security by working alongside government, industry, civil society, and public stakeholders to devise pragmatic solutions to the geopolitical, sustainability, and economic challenges of the changing global energy landscape.

learn more