Whats slowing down Americas clean energy transition? Its not the cost | Renewable Energy News [Video]

For the first time, clean energy in the United States is at the same price as energy from burning fossil fuels thanks to policy measures, including President Joe Biden’s signature climate legislation, the Inflation Reduction Act (IRA). But a new report says non-cost barriers are now slowing the country’s transition to renewables.

The report, released in February by the Clean Investment Monitor, analysed different modelling scenarios and found that the IRA is expected to meet its goal of reducing GHG emissions by roughly 40 percent by 2030.

Passed in 2022, the IRA is the largest investment to address the climate crisis ever passed in the US. The investment is significant in a country that is one of the world’s largest contributors to GHG emissions. (China, the US and India are the world’s top three emitters.)

The report found that electric vehicle sales were at the top of the projected range in …