President Biden’s signing of the Inflation Reduction Act (IRA) should provide further impetus for growth of U.S. renewable energy, coming on the heels of a report from the Federal Energy Regulatory Commission (FERC) that installations of solar and wind power accounted for more than two-thirds of new domestic utility-scale generation in the first six months of this year.
The Aug. 16 signing of the bill, which passed both the U.S. Senate and House along party lines earlier this month—all Democrats supported the bill, while Republicans voted against it—provides almost $400 billion to fund energy and climate projects.
