IRAirl: Power-Hitters in The Utilities Sector Project Cost–Savings For Customers Thanks to IRA

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This is Evergreen’s IRAirl, where we highlight how the climate investments within the Inflation Reduction Act (IRA) are benefiting communities across America—in real life (irl). 

Critical Impact:


Power-Hitters in The Utilities Sector Project Cost–Savings For Customers Thanks to IRA 

In just the past couple of weeks, DTE Energy, Duke Energy Corporation, and American Electric Power have projected that their customers will experience lower energy bills thanks to the IRA. These major utilities are responsible for delivering power to tens of millions of consumers, across more than a dozen states. And as they choose to lean into the clean energy transition, they’re delivering the cost savings and benefits of affordable, reliable clean power to their consumers.  

Our take on the latest developments in the IRA’s real-world impact:

“As IRA’s implementation begins to settle in, we’re already seeing how households across the country are going to benefit,” said Evergreen Action Deputy Press Secretary Elizabeth Cavalieri. “Reduced energy bills are just one example of how American families can save money because of the IRA. Duke Energy, DTE, and American Electric Power are massive utility companies that are responsible for powering millions in communities across more than a dozen states. To have these power players in the utilities sector confirming that the IRA will lower bills for their customers shows us the law is shaping up to work exactly as intended.”


Additional IRA Impact:

2 companies plan to build massive U.S. solar factories | E&E | David Iaconangelo | 11.18.22

“Both First Solar and Enel credited the Inflation Reduction Act, which offers new and extended tax incentives for solar-power generation and equipment production, as an impetus for their plans…Enrico Viale, head of Enel North America, said in a statement that ‘policy tailwinds from the Inflation Reduction Act have served as a catalyst for our solar manufacturing ambitions in the U.S.’”

GM promises profitable EVs, with a boost from Washington | Reuters | Joseph White | 11.17.22

“GM pickup trucks and SUVs with internal combustion engines - referred to as "ICE" by industry executives - earn double-digit profit margins. Barra said GM's new electric vehicles could be profitable by 2025, and that federal subsidies offered by the Inflation Reduction Act could boost EV profit margins toward "ICE-like margins."

Oak Ridge National Lab set to receive nearly half a billion dollars | WVLT Channel 8 | John Pirsos | 11.16.22

“Oak Ridge National Lab is set to receive $497 million dollars from the federal government, money that comes from President Biden’s Inflation Reduction Act. ‘These kind of big chunks of money happen once in a decade or so,’said Dr. Thomas Zacharia, Director for ORNL. Dr. Zacharia said the money will go a long way toward innovation and bringing more jobs to the area. One of the biggest projects is a second target station, which is important for materials research and will cost more than $42 million. ‘New battery technology for energy storage, whether it’s on the grid, or for new automobiles as we go into electric vehicles,’ said Zacharia…’We have grown the laboratory by about 1,500 jobs in the last few years,’ Zacharia said. ‘The knock-on effects from these inventions and small companies starting around the laboratory is going to create more jobs.’

First Solar Picks Alabama for $1.1 Billion Panel Factory | Bloomberg | Brian Eckhouse | 11.16.22

“First Solar Inc., the biggest US panel manufacturer, plans to build a $1.1 billion factory in Alabama, a major domestic investment that follows passage of a landmark climate law. The plant in Lawrence County is expected to be operational by 2025 and have an annual capacity equivalent to 3.5 gigawatts, according to a statement Wednesday.” 

Electric Vehicles Start to Enter the Car-Buying Mainstream | New York Times | Jack Ewing & Peter Eavis | 11.13.22

“Battery-powered cars now make up the fastest-growing segment of the auto market, with sales jumping 70 percent in the first nine months of the year from the same period in 2021, according to data from Cox Automotive, a research and consulting firm. Sales of conventional cars and trucks fell 15 percent in the same period…Buyers of battery-powered cars are concerned about climate change, but lower costs are also a powerful attraction, according to more than 3,000 respondents to a request for stories about electric car purchases on The New York Times’s website. Driving on electricity is generally much cheaper than gasoline. Scores of respondents said they were using energy they generated from rooftop solar panels to charge their cars, potentially lowering costs even further.” 

Mark Carney Sees ‘Wall of Opportunity’ for Energy Investors | Bloomberg | Natasha White | 11.8.22 

“‘A lot of the answer to energy security problems that have been exposed by Russia’s illegal war have to do with sustainability,’ [Mark] Carney said. ‘That’s why you’ve seen a five-fold increase in the ambition in the European Union for this decade. That’s why you’ve seen the big roll-out with the Inflation Reduction Act in the United States...these are solutions to not just climate issues, but geopolitical issues.’”

Lyft, Airbnb and other companies join forces to help you go electric | Canary | Allison Takamura | 11.3.22

“[T]he White House announced that seven companies are joining with electrification nonprofit Rewiring America in a collaborative effort to educate their users and customers on the panoply of rebates, tax credits and low-cost financing for electrification and home energy efficiency available under the Inflation Reduction Act. Hailing from wide-ranging sectors of the economy, the companies are: Airbnb, Arcadia, a utility and energy market data platform partnering with community solar developers, Duquesne Light Company, a Pennsylvania power utility, Lyft, Mosaic, a company that provides loans for home solar installations and efficiency upgrades, Propel, a software developer for low-income households and creators of the Providers app for managing SNAP food-assistance benefits, Redfin, a real estate brokerage with offices across the U.S.”

How will DOE loan out $250B to make dirty energy systems clean? | Canary | Jeff St. John | 11.3.22

“The Inflation Reduction Act contains $369 billion in tax credits, grants and incentives meant to drive investment in new clean energy technology over the next decade, a fact that has been widely reported. But it also gives the Department of Energy’s Loan Programs Office the power to spur not just the building of new clean energy resources, but also the transformation of old or dirty energy infrastructure into new or modernized clean assets, and the revitalization of the communities where that old infrastructure now sits. In implementing the Energy Infrastructure Reinvestment Program — also known as the Section 1706 program — the Loan Programs Office will be able to make up to $250 billion in low-interest loans. That’s an enormous opportunity: $250 billion is enough money to radically restructure entire swaths of the U.S. energy landscape.”

The EPA Is Creating a “Green Bank” — Here’s What That Means | Truthout | Mike Ludwig | 10.31.22

“The EPA’s national “green bank” will leverage public money in hopes of raising private capital for reducing greenhouse gas emissions and building out renewable energy infrastructure. Officially known as the Greenhouse Gas Reduction Fund, the green bank was created by the Inflation Reduction Act, a tenuous legislative victory for Democrats facing backlash over the flailing economy from midterm voters.”

Wind turbine maker Ingeteam plans expansion. Labor secretary Walsh highlights impact of Inflation Reduction Act. | Milwaukee Journal Sentinel | Ricardo Torres | 10.27.22

“Ingeteam, the only wind turbine generator in the country, is evaluating how to expand its operations in Milwaukee through funding from the Inflation Reduction Act. ‘We have the ability for more production,’ Mark Obradovich, managing director of Ingeteam’s facilities in Milwaukee, said. ‘We’re working hard to try to understand the (Inflation Reduction) act and what it can do for us…’ Obradovich said the federal funding the company could receive could make the Ingeteam more attractive to customers who want to buy from local companies. ‘It will make us more cost-competitive,’ Obradovich said. ‘We have the opportunity now to compete in an area where maybe we couldn’t compete before and will then allow us to create good paying jobs for the people of Milwaukee.’



Interested in chatting with our team more about what these impacts mean for climate and clean energy? Reach out to us at