In the News: Climate Bills and Clean Energy

September 6, 2022

This month has been incredibly insightful for the Renewable Energy sector and the passing of the Inflation Reduction Act has catapulted clean energy even more into the spotlight. 

These developments are exciting and also bring a sprinkle of uncertainty into the mix since it is uncertain how it is going to affect organizations and the bottom line.

We’ve curated three key articles that we believe encapsulate this month’s happenings perfectly, and we’ve highlighted some of the best points for you!

“Historic climate bill to supercharge clean energy industry” - Politico 

What are the highlights?

  • The climate and energy provisions of the Inflation Reduction Act would speed greenhouse gas cuts and put the U.S. on track to deliver the lion's share of President Biden's target for 2030.
  • The bill that includes $369 billion in climate and energy provisions will transform how Americans get their energy and ultimately shape the country’s climate and industrial policies for decades.

Vistra is an example of how battery storage will continue to grow and they aim to  reach 1,213MW by 2026 - Energy Storage News

What are the highlights?

  • Vistra Energy will have more than 1,213MW of battery storage in operation in its portfolio by 2026, the US power generation company has claimed.
  • By 2026, Vistra expects to have around 7,300MW of that low-emissions portfolio online, including 1213.25MW of BESS.
  • Like the rest of the US industry, Vistra is waiting to see what the impact of the Inflation Reduction Act will be since the law passed. How this new policy creates additional opportunities for Vistra Zero investments, and other businesses will play a pivotal role for other businesses investing in battery storage.

America's surge of spending on clean energy - Axios

What are the highlights?

  • The next decade will be transformative for the technologies needed to confront the climate challenge and capitalize on the opportunities inherent in the clean energy transition. 
  • Congress is leading the way on this. Annual real federal spending on climate and clean energy over the next decade will likely be at least 3.5 times its level in the period from 2009 to 2017, and 15 times its levels in the 90s and early 00s, as the figure below illustrates.
  • The new climate law is the "engine" due to "demand-pull measures that provide the security for these technologies to reach market maturity."

These new policies will shape the American energy market for decades to come. However, in the immediate future, it will be interesting to see what the impacts are within the US energy sector.


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