Wally Adeyemo, deputy secretary of the Department of the Treasury, said the Inflation Reduction Act provides investment opportunities to advance the U.S. clean energy sector.
In a recent roundtable with clean energy investors and operators, Adeyemo explained that the law works to enable the U.S. to boost the production of existing and new clean technologies and offers targeted bonus incentives to drive clean energy investments in underserved communities, Treasury reported Saturday.
The department said third-party analysts estimate that the Inflation Reduction Act’s clean energy incentives will generate trillions of dollars in private sector investment in the energy market over the next decade.
Treasury is hosting a series of roundtable discussions with key stakeholders to gather public comments and inform its implementation of the Inflation Reduction Act, which was signed into law in August.
In October, Treasury and the Internal Revenue Service released six requests for public comments on the implementation of climate and clean energy tax incentives mandated by the law.
The notices focus on energy generation incentives, credit enhancements, incentives for homes and buildings, consumer vehicle credits, manufacturing credits and credit monetization.
