Critical Impact:

Republicans Touting IRA Successes In Their Districts Just Prove The Law Is Working

Republicans in Congress unanimously opposed the Inflation Reduction Act. But now that the law is going into effect, the IRA’s clean energy investments are proving to be the most beneficial to areas of the country represented by those very same Republicans. And while conservatives shy away from naming the source responsible for the cash and private investments flowing into their state, they are quick to relish in the economic boon their districts are enjoying thanks to the IRA. While Republicans continue to claim credit for a bill they opposed and tout their sham “climate plans” (read: fossil fuel life support plans) the IRA will keep doing precisely what it was meant to do: create a thriving and just clean energy economy that delivers for communities across the country.

Our take on the latest developments in the IRA’s real-world impact:
 

“‘Vote no, but take the dough’—Republican hypocrites lining up to discreetly take credit for the successes of the IRA are just more evidence that this bill is delivering for the American people,” said Evergreen Action Deputy Press Secretary Elizabeth Cavalieri. “Beyond being wildly popular, the IRA’s investments in clean energy and climate are bringing investments, jobs, and climate justice to corners of this country desperately in need, no matter what party you belong to. This bill wasn’t passed only to serve blue communities or red communities—the IRA was passed with the intention of making a thriving clean energy future a reality for all Americans, and that’s exactly what it’s doing.”
 

Additional Impact:

Scoop: Biden's EV surprise | Axios | Joann Muller | 2.1.23

“The Biden administration's plan to jump-start a domestic supply chain for electric vehicles (EVs) is on track to shatter expectations…The big picture: Democrats offered carmakers new tax credits as an incentive to scale up domestic battery manufacturing — and they're racing to take advantage…Some experts say the value of those tax credits may be four times higher than Congress' budget experts anticipated…Why it matters: This is what President Biden and congressional Democrats wanted — to seed a domestic EV supply chain and reduce America's dependence on China, while accelerating the transition to cleaner transportation…Companies announced more than $73 billion in planned U.S. battery plants in 2022 alone, according to Atlas Public Policy.”

How Dems forced Europe into a 'race to the top' on climate | We've Got Issues | Joshua Holland | 1.27.23

“Evergreen Action co-founder Sam Ricketts joins Joshua Holland to talk about how the huge package of climate provisions that Joe Biden managed to push through a 50-50 Senate is creating something unusual: A virtuous trade war with our allies and rivals.”

Inflation Reduction Act (IRA) Clean Energy Manufacturing Announcements | Jack Conness | 1.27.23

What Happens When Utilities Start to Integrate the IRA into Planning? | RMI | Lauren Shwisberg & Sarah Vorhpal | 1.26.23

“One of the places we expect to see changes emerge as a result of the IRA is in utility integrated resource plans (IRPs). IRPs are where utilities evaluate their long-term options for meeting energy needs, such as when to retire existing resources and what to build next. They typically happen every 2–5 years and look 10–30 years into the future…The IRP filed by Michigan’s largest investor-owned electric utility, DTE, in November 2022, is the first resource plan in the country that has attempted to demonstrate some of those expected changes. By incorporating assumptions related to IRA tax credits, DTE executives projected that they will be able to save customers about $500 million over the course of the 20-year plan. Branded as the Clean Vision, the plan outlines DTE’s pathway to meet both Michigan and federal goals for emissions reductions of 28 percent below 2005 levels by 2025, 52 percent by 2030, and be carbon neutral by 2050.”

American-Made Batteries | Department of Energy | 1.20.23

Lithium company Ioneer scores $700 million conditional loan from Energy Department for Nevada plant | CNBC | Pippa Stevens | 1.13.23

“Lithium company Ioneer said Friday that it’s secured a conditional commitment for a loan of up to $700 million from the Department of Energy as the U.S. seeks to develop new supply chains for materials that are critical to the energy transition…Ioneer is developing the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. When fully operational, the site will produce enough lithium for 400,000 electric vehicles, the company said, while also producing boron.”

$210 Billion of Announced Investments in Electric Vehicle Manufacturing Headed for the U.S. | EV Hub | Noah Gabriel | 1.12.23

“Vehicle manufacturers and battery makers plan to invest $860 billion globally by 2030 in the transition to EVs. Nearly a quarter, $210 billion, is expected to be invested in the United States, more than in any other country. This is based on a recent analysis by Atlas Public Policy that searched through press releases, company earnings reports, and other public resources to tally EV investments from the private sector and track where those investments are expected to be made…The recent passage by the federal government of the Infrastructure Investments and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) provides unprecedented levels of support for EVs, including at least $83 billion of loans, grants, and tax credits that could support the production of low or zero-emission vehicles, batteries, or chargers. Support like this can help prompt private-sector investment by creating confidence in the availability of funding. Clear regulatory signals, for example on tailpipe emissions rules, would create further confidence for the private sector and help ensure companies follow through on their EV investment plans.”

Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia | The New York Times | Ivan Penn | 1.11.23

“A Korean solar company, Hanwha Qcells, announced on Wednesday that it would spend $2.5 billion to build a large manufacturing complex in Georgia. The plant will produce critical components for solar panels and build complete panels. If realized, the company’s plans could bring some of the supply chain for solar energy, which is largely based in China, to the United States…Qcells, which has its headquarters in Seoul, said it was making the investment to take advantage of tax credits and other benefits in the Inflation Reduction Act, the law Mr. Biden signed last summer. The manufacturing complex is expected to create 2,500 jobs in Cartersville, Ga., roughly 50 miles northwest of Atlanta, and at an existing plant in Dalton, Ga. Production at the new plant is expected to start in 2024.”

Environmental Justice Grants, Funding and Technical Assistance | Department of Energy | 1.10.23

“The Environmental Justice Collaborative Problem-Solving (EJCPS) Cooperative Agreement Program provides financial assistance to eligible organizations working to address local environmental or public health issues in their communities.  The program assists recipients in building collaborative partnerships with other stakeholders (e.g., local businesses and industry, local government, medical service providers, academia, etc.) to develop solutions to environmental or public health issue(s) at the community level.”

Making Our Homes More Efficient: Clean Energy Tax Credits for Consumers | Department of Energy | Office of Policy | 12.21.22

Interested in chatting with our team more about what these impacts mean for climate and clean energy? Reach out to us at elizabeth@evergreenaction.com.