#Inflation Reduction Act

#Inflation Reduction Act

Alas, fortunes have changed. Following "the most abrupt shift in energy and climate policy in recent memory" during the first seven months of the Trump administration, according to a new Rhodium Group report published today, we can expect a significantly slower pace of progress - a 26-35 percent reduction in emissions over the next decade compared to pollution levels in 2005.

The $5.8 billion Glendale site currently employs about 1,450 workers and could grow to 5,000 if it reaches full capacity. Its inauguration has come after reaping benefits from the Biden administration's pro-climate policies, mainly the Inflation Reduction Act (IRA). In December 2024, the U.S. Department of Energy awarded BlueOval SK a record $9.3 billion loan to build three battery plants: two in Kentucky and one in Tennessee. At the time, the DOE said the projects would support 5,000 construction jobs and create up to 7,500 operations jobs.

"What I see two years out is low-cost will once again drive demand in this market," says McDaniel, general manager of Bila Solar. He adds, "That's going to be a hard road for some of us who have [higher costs] than panels made over in China or Southeast Asia."

A major debate centers on clean energy credits from the 2022 Inflation Reduction Act, with House Republicans aiming to eliminate $522 billion in investments.

"House leadership was able to assuage some of those concerns when the draft of the bill showed that tax credits for biofuels would be preserved."

"If this freeze continues, we will continue to lose trust, lose projects, and lose capacity to operate," said Beth Bafford, chief executive of Climate United.