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This is Climate 1. I'm Greg Dalton. The Inflation Reduction Act is now law and it's going to make a huge

impact on the climate future of the country.

This is foundational change to the U.S. energy economy, and we'll be talking about it for years to come.

The incentives in the law will help industry bring down the cost of clean tech even further.

A lot of the policies in this law are trying to help drive down that cost

curve. And the way you do that is by actually producing more, purchasing more. And so this is a strong

form of American industrial policy saying we believe these are going to be industries in the future.

But passing the law was only the first step. Now it has to be implemented.

And that's no easy task. It does take time, but I can tell you, we've got a very committed

team in the federal government right now who are already really moving forward quickly.

What's next for the Inflation Reduction Act? Ahead on Climate One.

In August, President Biden signed the Inflation Reduction Act into law.

The IRA allocates around $370 billion over 10 years to invest in renewable energy,

make EVs more affordable, address climate inequities, reduce greenhouse gas emissions, and help mitigate the climate crisis.

The IRA follows the passage of the Bipartisan Chips and Science Act and Bipartisan Infrastructure Act.

Taken together, the Biden administration hopes to jumpstart a new era of U.S.-led innovation, research, and economic

growth. But like any law, the way the money is doled out matters, and the law's implementation

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