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How Wright’s Law Can Right The Climate

Global Voices

By Anand Gopal, Executive Director of Policy Research, Energy Innovation: While America’s Inflation Reduction Act is historic achievement in its own right, its largest benefits will come in the form of global economic spillover effects.

America is now well positioned to achieve its goal of halving its emissions by 2030, relative to 2005 levels. While the IRA’s provisions could cut US emissions up to 43% by 2030, the remaining shortfall can be covered by new Environmental Protection Agency rules and stronger state-level action of the kind that we have seen this year in California. But while the IRA is a historic achievement in its own right, its largest benefits will come in the form of global economic spillover effects. Like the European Union’s “Fit for 55” policies, the IRA will drive the deployment of solar, wind, and battery storage, thereby reducing the costs of these clean technologies for everyone. Ultimately, all countries will pay much less to cut their own emissions at the speed and scale necessary to keep climate change in check.

How Wright’s Law Can Right The Climate

How Wright’s Law Can Right The Climate

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