What Does The IRA Mean For The World?

In this episode of The Energy Gang, we revisit the surprise of the summer: the Great American Climate Bill. Now that the Inflation Reduction Act (IRA) has officially been signed into law, what’s next?

Regular Energy Gang member Dr. Melissa Lott steps in as host this week while Ed Crooks takes a well-earned holiday. Joining Melissa is Robbie Orvis from Energy Innovation and Dr. Linus Mofor from the UN Economic Commission for Africa.

A press release from the white house estimates the IRA will result in the reduction of greenhouse gas emissions by about one billion metric tons in 2030.

For many, the bill is a high point of decades of work to pull together a piece of major energy and climate legislation in the US that helps mitigate the impacts of climate change and protect public health. Not just for the hundreds of millions living in the country but for the health of people around the globe.

The gang highlights the impact the IRA will have on air pollution – according to some initial analysis of the bill, we are looking at avoiding nearly 4,000 premature deaths and up to 100,000 asthma attacks annually by 2030.

The bill also extends and expands the existing electric vehicle subsidiary, requiring that at least 40% of critical metals must come from the US or a Free Trade Agreement partner.

As we head into COP27, we look at the response from other countries. Do policies like the IRA help in the energy transition around the world? We turn to Linus to walk us through the effects the bill may have on African countries and the opportunities for development and financing in the climate and energy sector.

As always, please do let us know what you think. Send us a note, or a free electron, on Twitter – we’re @TheEnergyGang.

This episode of the Energy Gang is brought to you by Hitachi Energy, a global technology leader advancing a sustainable energy future for all.

Learn more by listening to the Power Pulse podcast, where the Hitachi Energy team discusses the latest in the ongoing transformation of the world’s energy systems. The Power Pulse podcast is available now on Spotify, Apple Podcasts or any other podcast app.

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