The Biden administration has reached a significant milestone in its efforts to combat climate change, awarding over $100 billion in grants through the Inflation Reduction Act (IRA). This landmark achievement, announced by senior advisor for international climate policy John Podesta, demonstrates the administration’s commitment to promoting clean energy and reducing carbon emissions.
Despite the impending change in leadership, with President-elect Donald Trump set to take office, the administration remains determined to continue the deployment of clean energy. Trump, a known skeptic of climate change, has vowed to rescind all unspent IRA funds. However, the administration is confident that the funds have been distributed quickly and effectively, making a tangible difference in communities across the country.
According to a senior Biden administration official, the administration is on track to exceed its goal of “obligating” over 80% of available IRA grant funding by the end of Biden’s term next month. This means that the funds will be protected by contract law, making it difficult for Trump to reverse the progress made.
The IRA also offers tax incentives for clean energy projects, such as wind and solar installations, which are set to last for a decade. Reversing these incentives would require an act of Congress, further solidifying the administration’s efforts to promote clean energy.
The grants and subsidies provided by the IRA have already had a significant impact, driving billions of dollars towards renewable energy projects across the country. Interestingly, Republican-led states have received the majority of these benefits, highlighting the bipartisan nature of the issue.
In fact, in August, 18 Republican House members wrote to House Speaker Mike Johnson, urging him not to dismantle the IRA’s incentives as it would jeopardize major investments. This further emphasizes the importance of the IRA in promoting clean energy and reducing carbon emissions.
Even some of Trump’s close allies have benefited from the IRA, particularly through its provisions for carbon capture and sequestration, as well as clean hydrogen. Recent awards, such as a $119 million contract to electrify federal buildings in the D.C. region and $147 million for climate change research by the National Oceanic and Atmospheric Administration, have pushed the grant funding over the $100 billion milestone.
In addition, the U.S. Department of Agriculture has also provided an additional $256 million in grants and loans through the Rural Energy for America Program. These investments will have a significant impact on promoting clean energy and reducing carbon emissions.
In conclusion, the Biden administration’s achievement of awarding over $100 billion in grants through the IRA is a significant step towards combatting climate change. Despite potential challenges from the incoming administration, the administration remains committed to promoting clean energy and reducing carbon emissions. These efforts have already had a positive impact and will continue to do so in the future.