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New US law encourages renewable investments
Official Press Release Rystad Energy:
Inflation Reduction Act will attract an extra $270 billion in US wind and solar investments by 2030
The Inflation Reduction Act is set to boost installed solar and onshore wind capacity in the US by 40% by 2030, with an extra 155 gigawatts (GW) of capacity expected to come online this decade, Rystad Energy research shows. The Inflation Reduction Act, signed into law by President Joe Biden earlier this week, extends and expands upon existing tax credits, improving project economics and encouraging investments in renewable energy projects.
The projects added due to the new incentives are expected to attract additional investments of more than $270 billion in the next eight years as developers take advantage of the beefed-up tax credits. To put it into perspective: The US is on track to have 140 GW of onshore wind capacity installed by the end of this year. Under the... ... More: Official Press Release Rystad Energy
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- Rystad Energy, USA, Inflation Reduction Act, investments, industry, solar, wind, offshore, onshore, Joe Biden, decade, energy security, GW, capacity
