Bloomberg Law
Oct. 19, 2022, 1:00 PM

US Renewable Power to Get 20% Boost From Landmark Climate Law

David R Baker
David R Baker
Bloomberg News
Angel Adegbesan

The sweeping climate law signed by President Joe Biden will boost development of solar, wind and big batteries by at least 20% through 2030, accelerating what would already have been rapid growth, according to BloombergNEF, a clean-energy research group.

The Inflation Reduction Act’s long-sought tax credits for renewable technologies will have their greatest effect toward the end of the decade, after the supply-chain problems now delaying some clean-power projects have eased. But in the end, the IRA, which revived Biden’s stalled climate-change agenda, could have a dramatic effect on how the US generates and stores power.

Enough solar ...