What Impact Will the IRA Have On Consumer Energy Costs?

New research from Resources for the Future quantifies the Inflation Reduction Act's expected impact on clean energy development, energy costs, and emissions. --- The Inflation Reduction Act provides hundreds of billions of dollars’ worth of incentives for clean energy, and is a key part of the U.S.’s effort to reduce its greenhouse gas emissions. New research from Resources for the Future examines the extent to which the IRA may in fact incentivize the development of wind and solar power, and contribute to the Biden Administration’s goal of achieving 80% clean energy by the end of this decade. Dallas Burtraw, a senior fellow with Resources for the Future, discusses the IRA’s potential to accelerate clean energy development, and its financial costs, or benefits, to consumers. Burtraw also explores the new law’s expected environmental and health impacts, and potential barriers that may limit the IRA’s ability to realize the full scope of expected benefits. Dallas Burtraw is a Darius Gaskins senior fellow at Resources for the Future Related Content Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/    The Economics of Building Electrification https://kleinmanenergy.upenn.edu/research/publications/the-economics-of-building-electrification/ Impacts of the Inflation Reduction Act on Rare Earth Elements https://kleinmanenergy.upenn.edu/news-insights/impacts-of-the-inflation-reduction-act-on-rare-earth-elements/ Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.