Biden’s climate bill is changing climate tech, and our daily lives

Zero: The Climate Race

Bloomberg

Technology, Business, Science

4.7 • 219 Ratings

🗓️ 11 May 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s been eight months since President Biden signed the Inflation Reduction Act. Already the hundreds of billions of dollars it contains for clean energy and slowing climate change —alongside private venture capital investments — are funding a wide array of climate technology projects, from decarbonizing infrastructure to rust-based battery storage.

This week we are sharing an episode of the Bloomberg podcast The Big Take that looks at where all the money in U.S. President Biden's signature climate bill has gone. Bloomberg climate reporter Eric Roston and senior reporter Akshat Rathi talk with Big Take host Wes Kosova about how climate tech is no longer a corner of the economy–it’s fast becoming the economy. And reporter Zahra Hirji joins to talk about some of the ways the IRA’s spending is starting to show up in our everyday lives.

Read the story by Akshat Rathi and Eric Roston here. Find more from The Big Take, here. And help out Zero by taking our listener survey, here.

Read a transcript of this episode, here.

Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Special thanks to Kira Bindrim and The Big Take team. Thoughts or suggestions? Email us at [email protected]. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi, it's Akshad. I recently joined some of my colleagues on our sister podcast called The Big Take
0:08.0	to talk about what's happened to climate tech in recent years, especially since U.S. President
0:13.8	Joe Biden signed the Inflation Reduction Act last year. It's a topic that comes up a lot on
0:19.3	zero as we go out and meet people working on climate
0:22.2	solutions of all kinds and the passing of the bill has supercharged the US climate tech scene.
0:28.3	So this week we are sharing that episode with you on zero. I hope you'll enjoy it. If you would
0:33.7	like to hear more from the big take, find it wherever you get your podcasts.
0:38.2	And if you'd like to read the article, I wrote with my colleague Eric Rothen that inspired this episode,
0:43.4	you can read it on Bloomberg.com or find, it's the big take.
1:09.9	I'm Wes Kosovo. Today, how's all that money Joe Biden got for green projects being spent?
1:24.5	Democrats are claiming victory this weekend after finally getting their health care and climate package through the Senate.
1:30.8	Known as the Inflation Reduction Act, the bill aims to reduce inflation while encouraging greener industries to develop.
1:37.8	It was a big deal last summer when the president signed the Inflation Reduction Act,
1:42.7	which includes hundreds of billions of dollars
1:45.0	to slow climate change and speed America's transition to clean energy. Less than a year later,
1:52.0	that money is already being put to use in all kinds of ways, but you might not be able to see it
1:57.8	unless you know where to look. Fortunately, I'm here with a couple of people
2:01.9	who do. Climate reporter Eric Rosten. The wind doesn't always blow and the sun doesn't always shine,
2:08.3	and we need a place to park our electrons when we're not using them. And senior reporter Akshat Rati,
2:14.3	who's also host of our Brilliant Sister podcast, Zero. It's all about the tactics and technologies taking us to a world of zero emissions.
2:25.4	There are these sets of technologies which you can call as enabling technologies which work across multiple different economic sectors. Hydrogen is one of them. Batteries is the other.
2:36.0	And a little later in the show,
	...

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