Texas and California, the US leaders in renewable energy, are likely to gain the most from President Biden’s landmark climate law.
The Inflation Reduction Act, passed last year, plans to inject about $370 billion in everything from solar projects to electric vehicles — mainly in the form of subsidies. Texas may attract $131 billion of investments between now and the end of the decade, assuming companies and consumers adopt clean technologies at the scale needed to meet national climate targets, nonprofit Rocky Mountain Institute said in a report. California may get $117 billion, followed by Florida with $62 ...
