Harnessing the Winds: How Policy Can Establish North America as a Wind Energy Leader

When: Wednesday, 26 April 2023, 12:15 - 13:15
Where: Markets Stage

Session description

The Inflation Reduction Act's impact is reverberating across borders, with its effects felt domestically in the US, as well as in Canada to the north and across the Atlantic in Europe. The $369 billion earmarked through the IRA for clean energy and climate change mitigation initiatives provides unprecedent support the energy transition, such as through the production and manufacturing tax credits While these generous subsidies will drive down domestic decarbonization costs and support the build-out of a domestic supply chain for the wind sector, uncertainty remains on how quickly the global and American supply chains can adapt to the new conditions created by the IRA.to deliver the scale of projected growth.
Given the power of the US market to shape the global response to climate change, countries are responding to the IRA – the EU with its Green Deal Industrial plan and Canada with its Clean Hydrogen Investment Tax Credit and Clean Electricity Investment Tax Credit announced in the latest federal budget. How these policies interact on the global stage will be crucial, especially when it comes to attracting private sector investment.