The Inflation Reduction Act of 2022 (IRA) and Bipartisan Infrastructure Law of 2021 (BIL) together represent a historic investment of more than $430 billion toward modernizing the American energy system. The provisions in these two laws will enhance the nation’s energy security, lower energy costs for American households and businesses, drive clean energy innovation, improve human health, and mitigate climate change. The laws will create high quality jobs and new economic opportunities through investments in and incentives for domestic clean energy manufacturing. IRA and BIL go a long way toward injecting the public investment that is needed to build a clean energy economy. In this report, DOE presents results of a new analysis on the economy-wide impacts of IRA and BIL, including impacts on the energy system and progress toward climate targets.
Investing in American Energy: Significant Impacts of the Inflation Reduction Act and Bipartisan Infrastructure Law on the U.S. Energy Economy and Emissions Reductions
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