RMI Celebrates Passage of Historic Climate, Clean Energy Bill
Inflation Reduction Act will lower costs, massively scale up clean energy to tackle climate change
Washington, DC – August 12, 2022
Moments ago, the US House of Representatives passed the Inflation Reduction Act — the biggest climate and clean energy bill in US history. President Biden is expected to sign the bill this weekend.
According to independent analysis, the legislation will lower energy costs, increase investment in clean energy economic opportunities, slash domestic emissions by at least 40 percent, and stimulate jobs and economic growth.
“The passage of this bill reframes climate solutions in a way that aligns with the facts — transitioning to renewable energy is affordable, available, reliable, and equitable,” said Jules Kortenhorst, CEO of RMI (formerly Rocky Mountain Institute). “Hands down, the investments in this new legislation will help lower energy cost inflation.”
“With three major pieces of legislation passed under the Biden administration and this Congress, the Inflation Reduction Act, the CHIPS and Science Act, and the Bipartisan Infrastructure law, the United States has a massive, unprecedented level of investment to help us build a carbon-free economy,” said Sarah Ladislaw, director of RMI’s US Program. “Right now is the time to start building the clean energy future we want in this country — one that is healthier, more equitable, secure, and resilient.”
- A more comprehensive overview of the provisions in this bill is available at RMI’s Inflation Reduction Act landing page.
Notes to Editors
- Managing Director Sarah Ladislaw, Director John Coequyt, and others of RMI’s US Program will be available for comment.
RMI is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing.