Analysis

Big Boost For Renewables At Stake In Surprise Inflation Bill

By Juan Carlos Rodriguez (July 28, 2022, 9:34 PM EDT) -- Surprise legislation tied to reducing inflation could be a boon for the domestic renewable energy industry, providing key tax credits and incentives that experts say would spark significant project development and manufacturing.

Sens. Joe Manchin, D-W.Va., and Chuck Schumer, D-N.Y., made a big splash Wednesday with an announcement that they'd drafted a budget reconciliation bill that resurrects climate change proposals that had previously fizzled out in Congress. If it passes, the Inflation Reduction Act would provide $369 billion in spending, tax credits, incentives and grants for renewable energy projects, electric vehicles and environmental justice.

"This is a hugely significant bill," said...

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