The Inflation Reduction Act has accelerated the expansion of the U.S. green energy economy, creating tens of thousands of new jobs, especially in electric vehicles, renewable energy and energy efficiency.
Martin Kuebler reports for Deutsche Welle.
In short:
- The Inflation Reduction Act (IRA), passed in 2022, has led to $140 billion in private investments in over 340 clean energy projects, helping the US compete in a $20 trillion global market for green economy goods.
- The act spurred 149,170 new jobs in 2023, more than half of the energy sector's new positions, with electric vehicles making up a third of the projects.
- Clean energy projects are happening nationwide, including solar panel factories in Texas and battery plants in Georgia, benefiting local economies.
Key quote:
"This process will take time, but it has been an important start to diversifying clean energy manufacturing across the entire globe."
— Jack Conness, policy analyst at Energy Innovation
Why this matters:
The IRA is driving a transition to clean energy, creating economic opportunities and helping the U.S. reduce its reliance on fossil fuels. However, future political uncertainty could affect ongoing projects and climate goals.
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