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Classified in: Oil industry, Environment, Science and technology
Subjects: SVY, TRD

New Study Finds the Inflation Reduction Act Makes a Game-Changing Business Case for Growing Domestic U.S. Wind and Solar Industry

Study Finds U.S.-Made Wind and Solar Components Will Be Cheaper Than Imports for the First Time Ever, Contributing to 4 Million New Wind and Solar Jobs

WASHINGTON, June 9, 2023 /PRNewswire/ -- Researchers at Dartmouth and Princeton released a report on the estimated impacts the Inflation Reduction Act will have on the U.S. wind and solar industry, including changes in wind and solar manufacturing, labor standards for clean energy workers, job creation, and demand for materials. Specifically, the report explores the impacts of the law's clean electricity production and investment tax credits and the 45x Advanced Manufacturing Production Tax Credit. The research was funded by the BlueGreen Alliance.

The report finds that wind and solar developers will reap significant cost savings by using U.S.-manufactured components and paying workers fair wages, due to the investments in the Inflation Reduction Act.

"Using U.S.-manufactured parts and materials for clean energy development and paying workers a fair wage has always been the right thing to do. Now it's also the most economical thing to do," said BlueGreen Alliance Executive Director Jason Walsh. "This report shows that the Inflation Reduction Act successfully creates an air-tight business case for supporting U.S. workers and manufacturers."

The topline findings of the report include:

"The study reveals how the Inflation Reduction Act transforms the economics of wind and solar power to help delink our climate goals from overseas supply chains that are marred by labor abuses, higher levels of pollution, and shipping bottlenecks," said BlueGreen Alliance Vice President of Manufacturing and Industrial Policy Ben Beachy. "Instead, these new investments offer an opportunity to build our clean energy future on a foundation of good jobs, clean manufacturing, and a more reliable and equitable industrial base."

Media Contact:
Justin Jackson
(951) 214-9108
[email protected] 

SOURCE BlueGreen Alliance

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