Washington, D.C. – August 12, 2022 – Today is a historic moment for the advancement of a prosperous, carbon-free future. Investments in the Inflation Reduction Act (IRA) will create jobs, reduce energy costs, provide market stability to mobilize deployment of capital for clean energy and catalyze next generation technology, manufacturing and innovation. Collectively, the bipartisan Infrastructure Investment and Jobs Act and the CHIPS Act (Creating Helpful Incentives to Produce Semiconductors for America Act), together with the IRA, are poised to advance affordable, reliable and clean energy for all Americans.
The Inflation Reduction Act depends on demand-side uptake of clean energy, putting energy customers in the driver’s seat. Already, Clean Energy Buyers Association (CEBA) members, which represent some of the U.S.’s largest energy customers, have voluntarily procured more than 52 gigawatts (GWs) of new, utility-scale renewable energy since 2014 – equivalent to nearly 40% of all clean energy capacity added in that time.
Pent-up customer demand for clean energy is significant, and the IRA makes this demand even more powerful – it provides stable, predictable investments in an array of clean energy technologies. Yet, to fully realize the potential of the investments, persistent and systemic market barriers such as interconnection and permitting reform, greater transmission expansion, accessing well-functioning markets, supply chain uncertainty, and data transparency must be addressed. We look forward to tackling these barriers so customers may continue to play a leading role in building a more secure, reliable and clean power sector and building stronger, resilient communities.
About the Clean Energy Buyers Association
CEBA activates a community of nearly 300 members – representing more than $7 trillion in annual revenues and 14 million employees – to deploy solutions for a carbon-free energy system. Most members are institutional energy customers of every type and size – corporate and industrial companies, universities, and cities. For more information, visit cebuyers.org and follow on Twitter and LinkedIn.