Renewable energy could experience an unprecedented boom in the United States in the wake of the first climate change law, as the capacity of solar and wind projects is expected to double by the end of the decade, enough to cover most of the nation’s total electricity supply, according to new research.
Passage of the legislation, known as the Inflation Reduction Act, will help put the United States at the forefront of the energy economy, experts predict, and compete with China in the production and installation of solar panels and wind turbines. Writes Watchman.
According to an analysis by the research company Energy Innovation, The tax credits built into the $370 billion in climate change spending will double wind and solar installed capacity by 2030. This additional source can allow clean electricity
It provides up to 85 percent of the total energy supply in the United States.
“This bill will make electricity production much cheaper – We will have an incredible amount of solar and wind energy at our disposal.” – said Robbie Orvis, chief analyst at Energy Innovation.
According to the White House, the law could be in place by mid-century It could save the country $1.9 billion, Because this will reduce the number of deaths caused by extreme heat, floods, droughts and wildfires, as well as the resulting physical damage. Joe Biden described the bill as a historic moment.
