73% of the Public Supports the Inflation Reduction Act for a Clean Energy Transition

Reducing Carbon Emissions with Government Funding

Americans Call for Action

Recent studies show that a majority of Americans, including registered voters, are in favor of the federal government taking action to reduce carbon emissions. According to a CNN/SSRS poll, 73% of US adults believe that the government should aim to cut the country’s planet-warming pollution in half by the end of the decade. Similarly, a Yale/George Mason poll found that 56% of registered voters consider addressing global warming a high priority for the president and Congress, with 64% prioritizing the development of clean energy sources.

Vanessa Chan: Leading the Charge

Dr. Vanessa Chan, Chief Commercialization Officer of the US Department of Energy (DOE), is at the forefront of efforts to leverage government funding and incentives to reduce carbon emissions. In a recent interview on the Electric Ladies Podcast, Dr. Chan discussed how the DOE is working towards ambitious goals, such as a 50% reduction in greenhouse gas pollution by 2030, a carbon pollution-free power sector by 2035, and a net-zero emissions economy by 2050. She highlighted the importance of government enabling the private sector to accelerate the transition to clean energy.

The Urgency of the Climate Crisis

With 2023 officially declared the hottest year on record, there is a pressing need for swift action. The Earth has warmed by 1.4 degrees Celsius, rapidly approaching the critical threshold of 1.5 degrees Celsius where irreversible damage is expected. The consequences of crossing this threshold will be severe for both humans and ecosystems.

Investing in clean energy

The US government is allocating significant funds towards clean energy initiatives. The Infrastructure Investment Act, the Inflation Reduction Act, and the CHIPS and Science Act together represent approximately $3 trillion in investments. Out of this, around $1 trillion is dedicated to clean energy projects. The legislation outlines specific technologies, such as clean hydrogen, advanced nuclear, virtual power plants, and carbon capture and sequestration, that will receive support.

Meeting the Biden Administration’s Criteria

All investments must meet the Justice40 criteria set by the Biden administration, ensuring that 40% of the benefits directly benefit disadvantaged communities. This commitment to equity and justice ensures that the transition to a net-zero economy is inclusive and benefits all.

Commercializing New Technologies

Dr. Chan brings her expertise in commercialization to the DOE’s efforts. She emphasizes the importance of three key questions when commercializing a product or technology: Does it address a significant need? Can it be sold at a reasonable price? Can it be delivered at a cost that allows all stakeholders to profit?

Pivoting the Energy Ecosystem

The DOE is committed to transforming the US energy ecosystem to achieve carbon emissions reduction goals. This involves understanding market needs, identifying technologies that can address those needs, and progressing through research, development, demonstration, and deployment stages. The department has undergone significant changes to align with this mission, with new offices and personnel dedicated to clean energy demonstrations, grid deployment, and supply chain management.

Deploy, Deploy, Deploy

Under the leadership of Energy Secretary Jennifer Granholm, the DOE is focused on rapid deployment of clean energy solutions. Secretary Granholm’s emphasis on “deploy, deploy, deploy” reflects the department’s commitment to taking action and making a tangible impact. This aligns with the desires of the American public, as expressed in the recent polls.

Listen to the full interview with Dr. Vanessa Chan on the Electric Ladies Podcast for more insights into the DOE’s efforts to reduce carbon emissions.

Read More of this Story at www.forbes.com – 2023-12-13 12:15:00