The United States' Path to Net Zero

After months of deliberation, adaptations, and revisions, the Inflation Reduction Act (IRA) was signed into law on August 16th, 2022. This law marked the most significant action congress has taken on clean energy and climate change in the nation’s history.  Give or take, the IRA is dedicating 370 billion dollars to green energy, conservation, and EV infrastructure. Most funds and investments are being made available through the distribution of grants, low interest loans, and tax credits.

The scope of projects receiving investments range from community based solar programs to the further development of a national EV charging network. In essence, these investments and projects have the potential to strengthen the US’s energy independence, retrofit the existing infrastructure, and create one million American clean energy jobs. The IRA has the US on track to a 40% reduction of C02 emissions by 2030. These statics, project titles, and claims are great on paper, but what about when that blueprint leaves the desk? How well is the IRA rollout being received by companies, organizations, and people. How is the current administration communicating the impacts of the IRA.

These questions and themes are addressed in more detail in ARC's newest 4-part podcast series. This series is dedicated to the investment made by the US in the pursuit of net zero emissions and a greener tomorrow. Each episode covers a multitude of topics, including emerging industries, established technologies, future policies, and the impact of the Inflation Reduction Act. The featured guests include ARC's finest analysts and the founder of the American Energy Society.

Episode 1: Features Eric Vettel, President, and Founder of the American Energy Society. During the episode, the host Gaven Simon does not hold back on asking very “poignant” questions. The two discuss how well the Biden – Harris administration has communicated the IRA and why it is important to create digestible content for Americans. They speak about what future IRA policies could look like, and why the “carrot” approach has worked up until now. The episode ends with an overall summary of the effectiveness of the IRA and what the two envision for the ongoing distribution of the IRA funds. 

Episode 2: Features Rick Rys, Senior Analyst at ARC Advisory Group. Rick has worked in Chemical, Oil, Gas, Power Generation (including Fossil & Nuclear), Power T&D, Renewable Energy, Pharmaceutical, Paper and Building Automation areas. He joins the series to speak about Hydrogen Electrolyzers and its role in the energy transition, which is still up for debate. The two speak about the current Hydrogen economy, developments in electrolyzers technology, and the impact of low-cost energy has on hydrogen development.

Episode 3: Features Peter Manos, Director of Research at ARC Advisory Group, whose expertise spans across generation, transmission, distribution, and smart grid and renewables-related technologies. Peter and Gaven speak about the importance of ESG data and the role it plays in having informed debates regarding climate policies. They cover how Digital Twins can be useful for estimating the IRAs impact and how it’s easier to make the mistake virtually than physically. Peter ends with his thoughts about the pushback that IRA has received and the importance of the “reduction” part of the bill.

Episode 4: Features Jim Frazer, Vice President of Research at ARC Advisory Group. Jim’s expertise is in EV infrastructure, Smart Cities, and sustainability. Jim and Gaven discuss the investment the IRA has in Electric Vehicles. The two discuss the multiple different tax credits available, EV developments, and the range of vehicles becoming popular. This episode is jam packed with all the information you need to understand what the IRA is specifically investing in within the EV space.