A 'Supercharge' Of Renewable Energy Development Is Taking Place Around Us

They’ve deduced that the new US climate law will make clean energy projects easier to finance across the country, quickening the pace of the US energy transition. An acceleration of renewable development will also put downward pressure on energy prices, as renewables have the lowest marginal costs among generation sources.How Various Levels of Renewable Energy are Projected to Rise

And what about batteries? Despite having higher costs than wind and solar facilities and no standalone tax credit, the development of grid scale batteries has grown at a brisk pace in recent years. The IRA’s broad definition of energy storage for the ITC should help emerging alternatives to lithium ion batteries come to market, the authors explain.

The IRA supercharge provides numerous tax credits, including the following items particular to renewables:

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