Ravi Manghani, director of strategy and market analytics at LS Energy Solutions, discusses the impact of the Inflation Reduction Act, one year after its passing.
The Q3 2023 edition of our downstream solar PV journal, PV Tech Power, is now available to download, leading with a focus on solar and storage in the US, one year on from the Inflation Reduction Act (IRA).
Just over a year ago, the passing of the Inflation Reduction Act brought in what has been considered the biggest legislative action on climate seen in the US.
Since the Inflation Reduction Act, US$270 billion of US clean energy investment has been announced while downstream projects in development have hit 185GW – 80% and 92% higher than four months ago.
Developers SMT Energy and SUSI Partners have secured a tax equity financing agreement for 100MW of ERCOT, Texas battery storage projects with ‘specialised tax equity’ investor Greenprint Capital.
Microvast is receiving more purchase orders from the US energy storage market than it can produce, the battery cell, pack and energy storage system manufacturer has said.