Happy Birthday, Climate Icon: The IRA Is a Game-Changer 1 Year In

In anticipation of the one-year anniversary of the Inflation Reduction Act’s (IRA) signing, Evergreen Action Executive Director Lena Moffitt released the following statement:

“The IRA has unleashed enormous amounts of untapped potential for our clean energy economy, and a mere 365 days since its signing, the law is skyrocketing past expectations. As the largest investment in climate and clean energy that the U.S. has ever seen, the IRA has helped Americans take major strides towards a thriving clean energy future. Just one year in, President Biden’s landmark climate law has delivered huge dividends with more than 270 billion dollars in domestic and foreign investments, across both the public and private sectors. On top of that, more than 170,000 new, good-paying clean energy jobs have already been created, with 9 million more predicted by the decade’s end. 

“The IRA was passed to address the most crucial dinner-table issues facing Americans in every corner of the country—and that’s exactly what it’s doing. Through compounding investments, the IRA is providing economic opportunities for state, regional, and local leaders and businesses, while also delivering lower costs to Americans and creating healthier communities. And thanks to the Biden administration’s Justice40 Initiative, billions of federal dollars are now prioritized for communities that have suffered decades of environmental injustice and disinvestment.

“The IRA has shown us that bold climate action and economic success are not mutually exclusive. In fact, it’s the exact opposite: By tying investments in the clean energy transition to high-road labor and just standards, we can create economic prosperity while protecting people and the planet. The bill’s resounding successes have shown the benefits of acting boldly on climate. We have been supercharged into a more prosperous clean energy reality, and at just one-year-old, it’s clear: The IRA is just getting started.”

One year ago, Congress ushered in a new era of U.S. climate progress with the passage of the Inflation Reduction Act. Evergreen Action was integrally involved with the design and passage of the IRA and is now working with a broad coalition to implement this historic bill. 

Over the past year, the first billions in IRA funds have begun to rebuild communities and industries across the country. With nine more years of IRA funding left ahead of us, the bill’s success will hinge on businesses, individuals, and state, local, and Tribal leaders taking advantage of the unprecedented opportunity to act on climate and invest in American clean manufacturing. You can learn more about implementing the IRA’s most important programs here.