The House Sustainable Energy and Environment Coalition (SEEC) hosted a roundtable with private sector companies that manufacture, deploy, and utilize clean energy to celebrate the Inflation Reduction Act’s (IRA) historic investments in America.
Highlighting the urgency of finding innovative solutions to the worsening climate crisis during Climate Week, businesses from key sectors discussed how the IRA spurred historic private investments in the clean energy sector. In just one year, the IRA is already having tangible impacts on our families, local communities, and American leadership in the fight against the climate crisis.
clean energy manufacturing
"We know the Inflation Reduction Act is transformational. Not just because it is tackling the climate crisis, but because of how it is doing it. This historic law ensures that our clean energy future will be built by well-paid Americans, using American-made technologies,” said SEEC Co-Chair Paul Tonko in his opening remarks.
“And today we will have the opportunity to hear from several companies that are supporting our clean energy manufacturing renaissance and helping to build resilient, domestic supply chains.”
IRA’s energy provisions
IRA’s energy provisions are driving action for climate change, energy security, manufacturing jobs"
“Here at GE Vernova, where we help generate nearly 30 percent of the world’s electricity, the Inflation Reduction Act’s impact has been transformative. We have accelerated investments in innovative breakthrough technology and are building new factories and creating jobs,” said Chrissy Borskey, Senior Executive Director of Government Affairs and Policy at GE Vernova.
"Across the industry, the IRA’s energy provisions are driving action for climate change, energy security, manufacturing jobs, and American competitiveness, and we are excited for what the future will bring."
All-climate heat pump systems
"All-climate heat pump systems are a key technology in achieving a strong and resilient clean energy economy. Landmark Inflation Reduction Act programs offer unprecedented incentives for Americans to adopt these ultra-efficient heat pump solutions and create new growth opportunities for the small businesses that install these systems," said Mark Kuntz, Chief Executive Officer at Mitsubishi Electric Trane HVAC U.S.
"As we implement the IRA, we are dedicating significant resources to train a new generation of skilled HVAC trade workers across every U.S. state."
Inflation Reduction Act
The greatest vulnerability to America’s electric vehicle and clean energy goals is the supply chain"
"The greatest vulnerability to America’s electric vehicle and clean energy goals is a supply chain predominantly dependent on Asia for the most costly and important battery components," said Daniel Zotos, Senior Manager of Public Affairs and Advocacy at Redwood Materials.
"The Inflation Reduction Act has already begun and will continue to change this paradigm, giving broad EV adoption the greatest chance of success by onshoring technical expertise, creating high-paying jobs, and capturing economic value for American taxpayers."
24/7 carbon-free energy
“The Inflation Reduction Act provides the geothermal industry with much-needed certainty on access to clean energy tax credits," said Gabriel Malek, Chief of Staff at Fervo.
"With this certainty, geothermal developers like Fervo can more easily finance their 24/7 carbon-free energy projects, providing firm, clean power to the grid and green jobs to hundreds of oil and gas workers.”
equitable, and resilient energy landscape
Inflation Reduction Act is nothing short of transformational in our nation’s pursuit of a carbon-free future"
“The Inflation Reduction Act is nothing short of transformational in our nation’s pursuit of a carbon-free future," said James Ritchotte, Federal Policy Director at Nexamp.
"What the IRA provides is a level of economic certainty for those who are building the infrastructure that will power this transition, directing investments into local communities across the country to ensure a just, equitable, and resilient energy landscape for all Americans. Now it’s up to companies such as Nexamp to deliver, and we’re excited to meet that challenge.”
policies to drive climate innovation
“Twelve understands that it will take everyone to address the scale of the climate crisis. That's why we're so appreciative of the leadership and forward-thinking embodied in the IRA, which represents a bold step towards meeting that challenge with policies to drive climate innovation across every sector of our economy, bolster domestic energy production, and champion clean energy," said Derek Phelps, Head of Policy and Government Affairs at Twelve.
"For Twelve, specifically, the IRA introduced impactful tax credits that greatly support many of the technologies and projects we're advancing and with which we are partnering, including sustainable aviation, sustainable chemicals, domestic manufacturing, electrolyzer development, carbon capture, and many other areas of the energy transition.”
Carbon-free economy
Holcim will be fundamental to building a carbon-free economy"
"The IRA is a game-changer for our industry. Holcim will be fundamental to building a carbon-free economy. With the passage of this historic legislation, we are well underway," said Melissa Carey, Head of Climate, ESG Policy and Government Affairs at Holcim.
"The IRA, together with the CHIPS Act and the Bipartisan Infrastructure Law provides the first comprehensive American industrial policy in decades," said Rahul Iyer at KCK Group, on behalf of American Battery Solutions.
foreign direct investment
"Even as global instability has caused investment to decline worldwide, the US remains the number one destination of foreign direct investment, and the IRA is a foundational element of ensuring continued American reindustrialization and technological leadership."
"Massive projects led by multinational corporations tend to dominate the headlines, but small and medium-sized companies like American Battery Solutions in Michigan and Ohio are at the leading edge of ensuring American competitiveness in a world that requires greater economic, environmental, and social sustainability."
