Energy Gang Clean energy finance in uncertain times – live from the ACORE Finance Forum in New York
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Jun 5, 2025 Ray Long, President of ACORE, shares insights on the mounting uncertainties in the clean energy sector due to Congressional debates over tax credits. Meghan Schultz, CFO of Invenergy, stresses how these uncertainties affect their operations as the largest US independent power producer. Ted Brandt, CEO of Marathon Capital, discusses potential fallout if subsidies are eliminated. They also highlight rising demand from data centers, the implications for electricity prices, and the competitive energy landscape between the US and China.
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IRA’s Massive Impact on Clean Energy
- The Inflation Reduction Act (IRA) has unlocked about $500 billion investment and 100,000 manufacturing jobs in clean energy in the US.
- Undoing these tax credits would halt most new projects and manufacturing gains, increasing costs and reducing clean energy supply.
Repeal Bill’s Severe Consequences
- The House bill to repeal IRA credits would cause $268 billion lost investments and 330,000 fewer jobs by 2030.
- It would close 331 factories, cost consumers $51 billion more, and reduce energy supplied by 173 terawatt hours.
Tax Credits Trump Tariffs for Manufacturing
- Tariffs have historically failed to incentivize large-scale manufacturing investment in the US.
- The IRA's advanced manufacturing tax credits and domestic content bonuses have successfully triggered over 160 new factories and $100 billion capital deployment.