On August 16, 2022, President Biden signed into law the Inflation Reduction Act, or IRA, which allocates $369 billion in funds to address climate change through clean energy. It aims to reduce greenhouse gas emissions about 40% below 2005 levels by 2030 through tax incentives and grants for transportation electrification, building efficiency, home energy rebates, and renewable energy, along with several other related energy-oriented and climate-focused provisions. This legislation represents the largest single climate investment to date in this country and will bring about seismic changes in the energy landscape.