This alert, originally published on August 10, 2022, was updated on August 17, 2022.
President Joe Biden signed into law the Inflation Reduction Act of 2022 (HR 5376) (the IRA or the Act),on August 16, 2022.
The Act is the Biden Administration’s effort to revive a number of provisions designed to reduce GHG emissions from the Build Back Better Act, which was defeated in late 2021. The IRA, as drafted, contains terms which will have a dramatic impact on the development and financing of clean energy projects in the US over the next ten years. As a budget reconciliation bill, the IRA only needed 51 votes to pass in the Senate. It was passed by a vote of 51-50.
The IRA includes a number of key changes relevant to clean energy in the US, among them the extension of the Investment Tax Credit and Production Tax Credit and the addition of expanded tax credits for other…
The clean energy provisions of the Inflation Reduction Act of 2022 – a historic effort to encourage the development of clean energy and reduce carbon emissions | Insights
