U.S. Renewables Capacity To Soar With The Inflation Reduction Act

Wood Mackenzie predicts that the Inflation Reduction Act (IRA) could triple annual renewable capacity additions in the United States to 110 GW in ten years. Despite challenges related to trade restrictions and supply chain uncertainties, the IRA's provisions for clean energy are starting to show benefits. The U.S. clean energy market is expected to overcome uncertainties from 2022, with wind and solar PV installations set to increase by around 40% in 2023. The solar industry expects to install a record-high 32 GW of new capacity this year, with total operating solar capacity expected to reach 375 GW by 2028.

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Frequently Asked Questions

Q: What is the Inflation Reduction Act?

A: The Inflation Reduction Act is a piece of legislation aimed at addressing and reducing inflation rates in the United States.

Q: How does the Inflation Reduction Act affect U.S. renewables capacity?

A: Unfortunately, the search results provided do not directly address the specific impact of the Inflation Reduction Act on U.S. renewables capacity. It is best to explore other sources such as news articles, industry publications, or official government statements for more detailed information on this topic.

Q: Where can I find more information on the impact of the Inflation Reduction Act on U.S. renewables capacity?

A: It is recommended to explore other sources such as news articles, industry publications, or official government statements for more detailed information on the impact of the Inflation Reduction Act on U.S. renewables capacity.