Fighting climate change was costly. Now it’s profitable
9 Feb 2023

It is a good time to be in the decarbonization business in the United States. The Inflation Reduction Act—with its $374 billion cornucopia of green incentives, subsidies, and grants—was designed to entice private companies to invest in the transition away from fossil fuels
Initial reports already suggest that the IRA may be working. An analysis by American Clean Power, a lobbying group of renewable-energy companies, indicates that even just the anticipation of its bounty catalyzed $40 billion in investments and created nearly 7,000 jobs in the last few months of 2022.
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