Congress recently passed the $737 billion Inflation Reduction Act bill that includes some provisions to address the climate change issue. The bill currently includes over $30 billion in incentives for companies to build wind turbines, solar panels, and batteries. It also includes long-term wind and solar tax credits that are aimed to expand the US’s renewable energy production capacity.
The incentives in the bill could further accelerate the wind energy industry. In 2021, the US produced 63 times as many kilowatt-hours of electricity from wind turbines as it did in 2000. An average of 3,000 turbines were installed every year across the US since 2005. It’s now the nation’s leading renewable electricity source.
