Energy Gang

It’s looking bleak for clean energy in the US as Congress threatens to shred the Inflation Reduction Act

May 20, 2025
Amy Myers-Jaffe, a policy expert at NYU’s Energy, Climate Justice, and Sustainability Lab, joins Robbie Orvis from Energy Innovation and Ray Long from the American Council on Renewable Energy. They tackle the chilling impact Congressional tax credit proposals could have on the clean energy sector. Discussion revolves around the urgency of protecting crucial tax incentives for renewables, the geopolitical ramifications of energy policies, and the future of U.S. energy supply chains amidst rising costs and international tensions.
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INSIGHT

House Committee Targets IRA Tax Credits

  • The House Ways and Means Committee proposes scrapping most IRA low-carbon tax credits to pay for tax cuts.
  • This signals a major policy reversal that could dismantle renewable energy financial incentives.
INSIGHT

Key Tax Credit Changes Hurt Renewables

  • Removing transferability of tax credits and applying foreign entity of concern rules would severely limit financing.
  • These changes could effectively dismantle support mechanisms critical to renewable development.
INSIGHT

Massive Power Growth Needed by 2030

  • U.S. power demand will grow massively with AI, needing 116 GW increase by 2030.
  • Wind, solar, storage, and natural gas are the only viable technologies for near-term expansion.
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