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Opinion

The Energy Gang podcast: what does the IRA mean for the world?

We revisit the surprise of the summer: the most important US climate legislation ever

1 minute read

Now that The Inflation Reduction Act has officially been signed into law, what’s next?

Regular Energy Gang member Dr. Melissa Lott steps in as host this week while Ed Crooks takes a well-earned holiday. Joining Melissa is Robbie Orvis from Energy Innovation and Dr. Linus Mofor from the UN Economic Commission for Africa.

In a press release from the white house, they cite estimates that the act will result in the reduction of greenhouse gas emissions by about 1 billion metric tons in 2030.

The IRA extends and expands the existing electric vehicle subsidiary, requiring that at least 40% of critical metals must come from the US or a Free Trade Agreement partner. But what did this bill leave out?

For many, it was the highpoint of decades of work to pull together a piece of major energy and climate legislation in the US to help mitigate the impacts of climate change and protect the public health. Not just of the hundreds of millions living in this country but the health of people around the globe.

The gang also highlights the impact the IRA will have on air pollution. According to some initial analysis of the bill, we are looking at avoiding nearly 4,000 premature deaths and up to 100,000 asthma attacks annually by 2030.

As we head into COP27, we look at the response from other countries. Do policies like the IRA help in the energy transition around the world? We turn to Linus to walk us through the effects the bill may have on African countries, and the opportunities for development and financing in the climate and energy sector.

As always, please do let us know what you think. Send us a note, or a free electron, on Twitter – we’re @TheEnergyGang.

This episode of the Energy Gang is brought to you by Hitachi Energy, a global technology leader advancing a sustainable energy future for all.

Learn more by listening to the Power Pulse podcast, where the Hitachi Energy team discusses the latest in the ongoing transformation of the world’s energy systems. The Power Pulse podcast is available now on Spotify, Apple Podcasts or any other podcast app.