The passage of the Inflation Reduction Act (IRA) is a major US domestic policy achievement. The first comprehensive climate law in US history puts the country\u2019s climate targets within reach by supercharging the development and rollout of clean energy technology. While largely focused on reducing emissions at home, the new law will no doubt influence the international politics of climate change and have geopolitical implications.\u00a0\u00a0<\/p>\n\n\n\n
The IRA is expected to cut US net greenhouse gas emissions down to 31\u201344%<\/a> below 2005 levels by 2030, compared to 25\u201334% without it. It will do this mainly by providing US$369 billion worth of incentives and investments to support clean energy generation, household energy efficiency, and decarbonisation of the economy. There will be particular emphasis on disadvantaged communities and on supporting rural communities to be a greater part of climate solutions.\u00a0<\/p>\n\n\n\n