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Trump says he'll claw back unspent money from the [Inflation Reduction Act]. That may not be easy.
https://www.marketplace.org/2024/11/07/donald-trump-unspent-ira-funds-renewable-energy/Among the many promises President-elect Donald Trump laid out on the campaign trail: clawing back unspent Inflation Reduction Act funds. That’s the bill signed by President Joe Biden in 2022 that’s poured billions of dollars into the clean energy sector. It won’t be an easy promise to keep, though.
In the last two years, the IRA has spurred a boom in domestic clean energy manufacturing, according to Bob Keefe, head of the group Environmental Entrepreneurs.
“We’re talking about solar panel factories, electric vehicle factories, battery factories, hydrogen hubs now,” lots of solar and wind power plants, he said.
Billions of dollars have been spent, leading to billions more in private investment, Keefe noted. And this development is happening “mainly in Republican states, Republican congressional districts.”
That’s largely because red states have fewer regulations around siting and building the kinds of projects the IRA targets, said David Victor, a professor of innovation and public policy at UC San Diego. And, he added, red states have benefited because the IRA’s climate provisions were aimed at changing the politics around clean energy projects.
You take folks that previously might have been opposed to these kinds of projects and make them supportive, because those projects are happening in their districts,” Victor said.
In the last two years, the IRA has spurred a boom in domestic clean energy manufacturing, according to Bob Keefe, head of the group Environmental Entrepreneurs.
“We’re talking about solar panel factories, electric vehicle factories, battery factories, hydrogen hubs now,” lots of solar and wind power plants, he said.
Billions of dollars have been spent, leading to billions more in private investment, Keefe noted. And this development is happening “mainly in Republican states, Republican congressional districts.”
That’s largely because red states have fewer regulations around siting and building the kinds of projects the IRA targets, said David Victor, a professor of innovation and public policy at UC San Diego. And, he added, red states have benefited because the IRA’s climate provisions were aimed at changing the politics around clean energy projects.
You take folks that previously might have been opposed to these kinds of projects and make them supportive, because those projects are happening in their districts,” Victor said.
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