As President Joe Biden's term nears its end, his administration has awarded over $100 billion in grants under the Inflation Reduction Act, Reuters reported. The IRA funds, which are expected to continue driving renewable energy adoption, are seen as a critical step in advancing clean energy projects across the U.S., with the goal of continuing this momentum even as Donald Trump, a climate change skeptic, prepares to take office on January 20.
John Podesta, Biden's senior advisor for international climate policy, highlighted the speed of grant distribution, telling Reuters, "Crossing the milestone of $100 billion awarded shows just how quickly we're getting these funds out the door and into communities so they can make a real difference for the American people."
The grants are supporting a range of projects, from electrifying federal buildings to funding research on the impact of climate change on fisheries.
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Definitely 💯 Recent grants include $119 million for electrifying five federal buildings in Washington D.C. and $147 million to the National Oceanic and Atmospheric Administration for data collection on climate change's effects on fisheries. Another $256 million in grants from the U.S. Department of Agriculture will support rural energy projects.
Although these grants are helping build a cleaner, more sustainable future, political challenges still persist. Republican lawmakers have voiced concerns about the continuation of these incentives under the Trump administration, with some urging the protection of the IRA's clean energy benefits. A letter from 18 Republican House members to Speaker Mike Johnson emphasized that rolling back incentives would jeopardize crucial investments.
However, the IRA's decade-long tax incentives for wind and solar are protected by law and can't be easily rolled back without Congressional approval. This offers a level of stability that's crucial for ongoing investment in renewable energy, no matter who occupies the White House. Podesta added that "when funds are obligated, they are protected," making them less vulnerable to political changes.
As the country moves forward, the continued deployment of these funds is expected to foster long-term, widespread adoption of clean energy technologies that will not only fight climate change but also contribute to job growth and healthier communities.
While the immediate focus is on the funding and projects already underway, there's also an opportunity for individuals to get involved. Tax credits and rebates available to homeowners and businesses can help reduce the upfront costs of adopting energy-efficient technologies and sustainable practices.
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