When the United States Congress passed the Inflation Reduction Act (IRA) — a historic bill that, among other things, presents the most significant piece of climate change legislation in the US — it took a significant step toward meeting the goal of reducing greenhouse gas (GHG) emissions to half of 2005 levels by 2030.
In a recent white paper, Guidehouse Insights reviews key provisions of the IRA and recommends vendors and OEMs to consider specific ways to meet the law's requirements in order to take full advantage of the available funding and incentives to maximize their—and their customers’—benefit. The white paper focuses on material sourcing and supply chain considerations, new tax credits for critical minerals, investment in advanced energy manufacturing, incentives for equity investment and clean energy financing, and alternative fuel subsidies, among other things.
"The law brings new players into clean energy markets and broadens the objectives of clean energy investments by funding efforts aimed not only at mitigating climate change but also at advancing social equity," say Richelle Elberg, principal research analyst, and Christopher Cooper, senior research analyst, in the white paper.
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