On Wednesday, Senate Democrats announced a surprise agreement on a $369 billion climate and tax package. If enacted, the legislation would be the biggest climate change action to-date, putting the U.S. on a path to cut emissions 31% to 44% below 2005 levels in 2030.
The renewable energy industry, long frustrated with the roadblocks to the Build Back Better Act, breathed a sigh of relief with the announcement.
So what exactly would the package entail? How would it affect the everyday consumer if passed?
First, let’s go over the main climate-related challenges that the legislation aims to address:
Lowering energy costs for AmericansIncreasing American energy securityDecarbonizing all sectors of the economyEnsuring environmental justiceIncreasing the resilience of rural communities
Below, we’ll debrief top takeaways from the 2022 Inflation Reduction Act,…