Clean energy industry says IRA rollback ‘will worsen energy crisis, hit energy dominance’

The text released by the House Ways and Means Committee of the Reconciliation bill being considered by the House of Representatives would roll back provisions in the Investment Reduction Act (IRA) that are designed to bolster domestic manufacturing, develop a competitive, local supply chain, and establish interregional transmission planning for offshore wind and other renewables.

American Clean Power Association chief executive Jason Grumet said, “The Ways and Means bill is at odds with American energy dominance. If adopted, the proposed language will raise energy costs for American consumers, force American factories to shut their doors, and threaten American jobs.

“While our industry is ready to engage constructively and find a workable path forward, the Committee’s approach simply goes too far too fast. With energy demand surging, this is not the time for disruption. It is possible to phase out incentives for clean energy investment, production, and manufacturing without harming American consumers or businesses.

“As the legislation moves through the process, we will work with lawmakers to ensure that the final product achieves necessary cost savings while maintaining investment certainty, energy reliability, economic growth and global competitiveness.”

In a statement, Oceantic Network said, “Dismantling clean energy and manufacturing tax credits only worsens our national energy crisis and will directly harm Americans by increasing energy bills, stifling investment, slowing energy development, and killing good-paying jobs across the US.

“Offshore wind is making America more secure by delivering reliable and affordable power and revitalising industries critical to national defence like steel production and shipbuilding. 

“Instead of advancing the administration’s priorities, the proposed reconciliation package stalls project development underwritten by a 40-state supply chain, explicitly targeting manufacturing tax credits, threatening billions of dollars of investments in the Midwest, Mid-Atlantic, and American South.

“As demand for energy surges, offshore wind is a ‘shovel-ready’ industry that can bring up to 10 GW of energy onto the grid before the next decade. If adopted, these provisions threaten to delay projects and deny ratepayers affordable and reliable electricity, compounding the economic pain Americans are already feeling from the rising cost of essentials.”