When the U.S. Inflation Reduction Act was signed into law in August 2022, policy analysts predicted that the incentives it provided for renewable energy deployment, home electrification and EV adoption would put the U.S. on track to reach at least two thirds of its 2030 emissions reduction target. Twelve months later, we can now start to track how well the nation is progressing towards those predictions.

In terms of unlocking private capital and kickstarting new clean energy projects, the IRA is profoundly exceeding expectations, already creating tens of billions of dollars in new investments in what has been dubbed a U.S. “manufacturing renaissance.” But according to Oliver Kerr, North America lead for market analytics company Aurora Energy Research, a national energy transformation requires integration as well as manufacturing. Climate Now spoke with Oliver about the impact of the IRA on renewable energy growth, as well as the policy reforms and grid infrastructure updates that are still needed to ensure that public and private investments being made in clean energy manufacturing will translate to 100% fossil free U.S. electricity in the coming decade.

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