One piece of silver lining is that for the first time, renewable energy sources surpassed coal in energy production for the first time ever.
John, we’ve got some good and bad news.
We’ll give you the bad news first: U.S. carbon emissions rose 1.3% last year. At a time when we need to be decreasing our emissions, any year where they increase is very troubling. One piece of silver lining is that for the first time, renewable energy sources surpassed coal in energy production for the first time ever.
This just furthers our resolve that we can’t fall asleep at the wheel for even a moment if we’re going to hit President Biden’s goal to cut our carbon emissions by 50% in the next seven years.
But here’s the good news >>
The Inflation Reduction Act includes $370 billion in new spending on tax credits and incentives encouraging the development of renewable energy, electric vehicles, and support for American companies to manufacture clean energy components and products here at home. Once all of this money works its way through our economy, the Inflation Reduction Act will get us almost to President Biden’s climate goals.
Look, John, saving the planet doesn’t happen overnight. It takes a consistent, all-systems approach to reach our climate goals, break free from fossil fuels, and create a more sustainable future. And while there’s still lots to do in order to meet the mark, we’ve made a TON of progress.
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