Report: Inflation Reduction Act alone is not enough

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BloombergNEF: The Inflation Reduction Act gets the US closer to net zero, with renewables, carbon capture, and electrification leading the way – but more action is needed.

Landmark climate bill gets the country closer to net zero, according to BNEF modeling. Provisions under the Inflation Reduction Act could result in a 40% drop in energy-related emissions by 2035 and 55% by 2050, compared to 2021. Electrification emerges as the most cost-effective way to decarbonize multiple parts of the economy, which will need significant investment in clean power supply as well as grid infrastructure. BloombergNEF’s Policy Scenario shows that the US needs mandates and regulations to complement the IRA’s incentives and push hard-to-abate sectors like... ... More: Official Press Release BloombergNEF

Keywords:

BloombergNEF, Inflation Reduction Act, USA, net zero, decarbonisation, carbon capture, electrification, policy, 2050, IRA