What is the Inflation Reduction Act (IRA) and how does it impact renewable energy?

The Inflation Reduction Act of 2022 is a landmark legislation in the U.S. that significantly impacts clean energy and climate change initiatives. It includes unprecedented federal support for the transition to clean energy, expanding and extending various tax credits for renewable energy technologies such as wind, solar, battery storage, and more. The IRA aims to bolster investments in renewable energy and support the Biden Administration’s clean energy goals.