More Data That New Energy To Boom From Biden Bill

US wind and solar capacity ‘to double by 2030’; Following IRA bill clean electricity share could reach 85% equal to as much as 1053GW of cumulative capacity

August 30, 2022 (ReNew Biz)

“Renewable energy is set for an unprecedented boom in the US following the passing of a climate bill, with the capacity of solar and wind projects expected to double by the end of the decade…The passage of the legislation, known as the Inflation Reduction Act (IRA), will help propel the US towards the forefront of the clean energy economy, helping it compete with China on the manufacturing and installation of solar panels, wind turbines, batteries and emerging zero carbon technology…

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…Modeling the impacts of the clean energy tax credit provisions for clean electricity under an IRA scenario, the share of clean electricity ranges from 72-85%, corresponding to a range of cumulative solar and wind capacity of 795GW up to 1053GW of cumulative capacity…[That is up from forecasts] in which clean electricity represents 49% of electricity generation in 2030, corresponding to 413GW of cumulative renewable capacity…

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In absolute terms, US emissions in 2030 are projected to be 2500 million metric tonnes (MMT) to 2800 million metric tonnes lower than 2005 levels…The IRA provisions could also generate public health and jobs benefits, preventing up to 4500 premature deaths from air pollution in 2030 and creating up to 1.3 million jobs in 2030. Finally, the IRA could increase US gross domestic product (GDP) by 0.65-0.77% in 2030…” click here for more

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