Massachusetts is at a Crossroads.
With some of the highest electric rates in the United States, an aging and inadequate infrastructure and an over-reliance on expensive, dirty and imported sources of energy during extreme weather events, Massachusetts must capitalize on every opportunity to advance our ambitious net zero climate goals.
The IRA
On August 16, 2022, President Biden signed the Inflation Reduction Act, the most sweeping climate legislation in U.S. history.
According to the White House, “The Inflation Reduction Act’s $370 billion in investments will lower energy costs for families and small businesses, accelerate private investment in clean energy solutions in every sector of the economy and every corner of the country, strengthen supply chains for everything from critical minerals to efficient electric appliances, and create good-paying jobs and new economic opportunities for workers.”
Billions of Clean Energy Dollars
The IRA will invest billions of dollars in our nation’s infrastructure to transition to a 100% clean energy future, a reliable infrastructure and lower costs, including incentives tor:
- Investments to Upgrade and Modernize Our Energy Infrastructure
- Research into Alternative Clean Fuels like Hydrogen and Renewable Natural Gas
- Energy Efficiency and Affordability
- Renewable Technologies like Wind and Solar
- Zero Emissions Vehicles and Transportation
The Commonwealth’s Opportunity
With 20 million square feet of lab space, 100 colleges and universities, dezens of clean energy businesses and startups, a trained workforce, and broad political support, Massachusetts is poised to benefit from the IRA, meet this moment, and be a national leader in this transition.
Multiple Pathways to Decarbonization
To avoid a massive increase in electricity rates and to end our use of oil and coal, Massachusetts will need additional and sustainable clean sources of energy. With the Biden Administration making federal funds available for this purpose, states like Massachusetts won’t be stuck relying on just a single pathway to net zero.
Call to Action
In order to best position the Commonwealth for this opportunity and meet the needs of our diverse residents, sectors and employers, Massachusetts must follow President Biden’s lead in keeping all our options open and embracing a diverse array of solutions to our climate challenge.