Why Treasury’s No. 2 Official Wants Permitting Reform

Two years ago this week, President Joe Biden signed the Inflation Reduction Act, the largest investment in clean energy and climate mitigation in American history. It contained roughly two dozen new or expanded tax credits that will — if the forecasts bear out — provide hundreds of billions of dollars in funding over the next decade. The administration is now rushing to finalize those provisions before the November election. Perhaps no official has been more central to setting up those tax credits than Wally Adeyemo, the deputy secretary of the U.S. Treasury Department. He is also the Treasury’s No. 2 official and chief operating officer. Adeyemo has led the agency’s effort to implement the climate law, overseeing a group of tax lawyers and political appointees who are critical to the legislation’s ultimate success. He joins Shift Key this week to help us kick off our second season and talk about how the effort to implement the climate law is going, what could stand in its way, and why he wants some kind of permitting reform.Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: The First IRA Tax Credit Data Is InSenator Manchin and Senator Barrasso’s permitting reform proposalWhy Energy Wonks Love the Permitting DealThe Inflation Reduction Act: A SummaryJesse’s upshift, Rob’s shift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Antenna Group helps you connect with customers, policymakers, investors, and strategic partners to influence markets and accelerate adoption. Visit antennagroup.com to learn more.Music for Shift Key is by Adam Kromelow. Hosted on Acast. See acast.com/privacy for more information.