Based on the information provided, here are the key points and the data you might need for a news report or article on the topic:
Headline:
States Lag in Harnessing IRA Funding for Climate Action, Report Finds
Lead Paragraph:
Two years after the Inflation Reduction Act (IRA) was signed into law, a new report from the Rocky Mountain Institute (RMI) reveals that states are behind in leveraging the federal tax incentives aimed at advancing clean energy and climate action. Despite the substantial potential funding, only a fraction of the available money has been distributed to date.
Key Information:
-
Slow Start in the Race for Clean Energy Goals:
- The report co-authored by Jacob Corvidae estimates that to meet national clean energy goals, approximately $1 trillion in federal investments through tax incentives is needed by 2031.
- As of June 2024, only $66 billion has been distributed, representing about 6 percent of the required investment.
-
Reflecting Private Investments:
- The federal tax incentives are largely a reflection of private clean energy investments in state economies.
- The $66 billion in federal funds has been matched and multiplied five-fold by private investments.
-
State-by-State Performance:
- On average, states have captured 7 percent of the funding needed to reach their full potential by 2031.
- California and Texas lead in tax benefits received, with California claiming $13 billion and Texas $9 billion.
- However, California and Texas are still far from their full potential, with California at 11 percent and Texas at 6 percent of their estimated funding potential.
Additional Context:
– The IRA was designed to accelerate the transition to a clean energy economy and includes a range of tax incentives for renewable energy, energy efficiency, and electric vehicles, among others.
– The report highlights the need for states to step up their efforts to attract and utilize these funds to meet climate goals and drive economic growth in the clean energy sector.
Call to Action:
– The report calls for increased urgency among states to capitalize on the IRA funding to not only address climate change but also to position their economies at the forefront of the clean energy revolution.
Source:
– Rocky Mountain Institute (RMI) report, co-authored by Jacob Corvidae.
This summary provides a comprehensive overview of the key findings from the RMI report and can be used to craft an article or news segment on the topic.
Views: 0