Center for American Progress

RELEASE: 5 Major Benefits of the Inflation Reduction Act’s Climate Investments
Press Release

RELEASE: 5 Major Benefits of the Inflation Reduction Act’s Climate Investments

Washington, D.C. — The Inflation Reduction Act’s $369 billion in climate investments won’t just tackle climate change; they will save families money, create millions of good jobs, and reduce pollution over the next decade, according to a new column from the Center for American Progress.

“This legislation will build the foundation for the clean energy economy of the future,” said Trevor Higgins, vice president for Climate Policy at CAP and co-author of the column. “It brings within reach our goal of slashing climate pollution to half of peak levels by 2030.”

The column summarizes five ways the measure’s climate investments would bring benefits to households and communities across the United States, according to recently published policy modeling:

  • Households could receive $28,500 in up-front incentives to buy electric vehicles, install rooftop solar, and switch to efficient electric appliances.
  • Families could save up to $1,800 in annual costs for gasoline and utility bills from switching to electric-powered products.
  • The investments in the legislation—including the clean energy tax credits and clean energy manufacturing incentives—could create up to 1.5 million new American jobs by 2030 in construction, manufacturing, and service.
  • Up to 3,900 lives could be saved every year by 2030 as a result of cleaner air.
  • Climate pollution would be reduced by to 40 percent below peak 2005 levels by 2030.

Read the column: “5 Major Benefits of the Inflation Reduction Act’s Climate Investments” by Trevor Higgins and Sally Hardin

For more information or to speak with an expert, please contact Sam Hananel at shananel@americanprogress.org