Federal Climate Investments Benefit States – Legislators Should Push for Increased Funding

By Better Today On Sep 25, 2023

TL/DR –

One year after the passage of a climate bill, Massachusetts has reportedly started to see the benefits from clean energy investment and job growth. The 2022 Inflation Reduction Act has led to clean energy projects that have brought in millions of dollars of investments in solar, wind, and other clean energy initiatives. The Department of Energy estimates that by 2030, the Act will bring an estimated $11.4 billion in investments in large-scale clean power generation and storage to Massachusetts.

The Impact of Climate Bill One Year Later

Massachusetts is experiencing an influx of clean energy investment and job creation a year after the implementation of the significant 2022 Inflation Reduction Act. This Act, signed last August, has facilitated a multitude of clean energy projects in Massachusetts, bringing in substantial investments in solar and wind energy, green hydrogen, and EV technology, amongst other initiatives.

With immense offshore wind opportunities and abundant solar energy potential, Massachusetts is well-equipped to combat climate pollution. Within a year, federal policies supporting a clean energy transition have boosted job creation in the state. The Department of Energy estimates that by 2030, the Inflation Reduction Act will draw an impressive $11.4 billion in investments into large-scale clean power generation and storage in Massachusetts.

These investments are a testament to the dual benefits Massachusetts can reap – economic advantage for its residents and mitigating the pressing issue of escalating weather extremes due to heat-trapping carbon pollution. Western Massachusetts, like many other U.S. regions, has experienced these climate extremes with record-breaking hot months, hazardous smokes from wildfires, and devastating floods.

Despite the overwhelming climate events, the U.S. is making solid strides in adopting solutions to cut down carbon emissions that harm our climate. These solutions are not only environmentally beneficial but also provide a boost to local economies. The Inflation Reduction Act offers incentives such as a “clean energy bank account” to assist low and moderate-income residents in reducing emissions, cutting household expenses, and improving air quality.

Many people have already started reaping tax savings of over $1,000 annually when purchasing electric cars and energy-efficient appliances. Rewiring America’s online calculator helps residents understand the monetary benefits they can get from the Inflation Reduction Act.

A public forum titled “Climate Incentives for All” will be hosted by Westfield State University this Wednesday at 6:30 p.m. to educate homeowners, renters, businesses, nonprofits, and city officials about rebates, tax credits, and other incentives to transition to clean energy. Register or access the livestream at westath.libcal.com/event/10939744.

As we continue our journey towards climate solutions, it is imperative that we don’t backtrack on the progress made. Despite the upcoming election, politics should not interfere with the Inflation Reduction Act or any climate-related issues. Voters expect these benefits to continue flowing into our state. While the summer’s climate headlines have been alarming, the solutions to halt escalating extremes are invigorating.

Our legislators should continue to amplify our clean energy efforts, meeting the moment to decrease climate pollution while providing good jobs and tangible benefits to the commonwealth.