ACP CEO Heather Zichal Statement on President Biden Signing the Inflation Reduction Act into Law

American Clean Power Association 

“With the stroke of the pen, a clean energy future is now the law of the land. This does for climate change and clean energy what the creation of Social Security did for America’s senior citizens. This law will put millions more Americans to work, ensure clean, renewable and reliable domestic energy is powering every American home, and save American consumers money.”  Continue reading here.

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“This new law will help the United States deploy enough clean energy to substantially decarbonize the electric grid and tackle climate change. It features long-term investments in clean energy and new incentives for energy storage, which give solar and storage businesses a stable policy environment and the certainty they need to deploy clean energy and meet the President’s ambitious climate goals. The bill also includes Senator Ossoff’s Solar Energy Manufacturing for America Act, which will support domestic solar production through new tax credits, lay the groundwork for thousands of new manufacturing jobs by the end of the decade, and usher in a new era for solar manufacturing in the United States.” Abigail Ross Hopper, SEIA President and CEO 

“With this legislation, America can finally move beyond years of on-again, off-again renewable tax credits to a long-term clean energy tax platform that will provide renewable companies with the stability they need to do business. This legislation will spur vital new investment that will help deploy thousands of megawatts of new renewable power, create hundreds of thousands of good-paying jobs, lower the cost of electricity for American families, and substantially reduce greenhouse gas emissions. We look forward to working with the Biden administration as they implement this law and build on it with additional measures to deliver the clean energy future Americans want and scientists say we desperately need.” – Gregory Wetstone, ACORE President and CEO

The Inflation Reduction Act includes long-term extensions of critical tax incentives supporting the deployment of all three wind applications – land-based, offshore and distributed – and new programs to support the siting and construction of high-voltage transmission lines, which will be important for both land-based and offshore wind. Also included are new production-based tax credits for domestic manufacturing and supply of wind components and equipment, which will provide strong incentives to onshore key supply chains of wind turbines and related components. 

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