2023 was a tumultuous year for the United States economy. Consumers dealt with pain points from inflation and high gas prices to increased interest rates. Despite these headwinds, the country’s clean energy economy surged thanks to President Biden’s Inflation Reduction Act (IRA) and growing demand for clean energy technologies, which added nearly $100 billion in new investment and more than 80,000 new jobs.
The IRA was the largest-ever investment in U.S. climate, clean energy, electrification, and energy efficiency. Combined with the CHIPS Act, Bipartisan Infrastructure Act, and other federal actions, the IRA is supercharging the economy. Onshoring U.S. jobs supporting the domestic manufacturing of electric vehicles (EVs), batteries, solar panels, wind turbines, heat pumps, and other clean energy technologies is jumpstarting a new clean industrial revolution.
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