The bill enables a journey towards a more efficient and resilient infrastructure for our country.
Today, President Joe Biden signed the Inflation Reduction Act (IRA) into law. The IRA represents a once-in-a-generation opportunity to innovate waste and climate harm out of the built environment. It directs $386 billion to clean energy spending and tax incentives, making it the largest investment ever made by the federal government to slow climate change and reduce our reliance on the fossil fuels responsible for our climate crisis.
This legislation represents a seismic shift that accelerates our industry’s pursuit of these goals. At McKinstry, we have been readying ourselves for decades for this opportunity. Our Action for Impact plan for transformative change keeps our focus squarely on addressing and solving for the climate, affordability and equity crises we face.
The IRA accelerates decarbonization through solar energy, energy storage, efficiency retrofits and other critical solutions McKinstry develops and delivers every day. Our teams across the US are working to support clients as they lead the way to invest in their infrastructure, reduce operating expenses and achieve ambitious decarbonization goals. Regardless of where a client is on the spectrum of transformation, this bill enables their journey to develop a more efficient and resilient infrastructure.
Each of us has a role to play in seizing this moment, and time is of the essence. In lockstep with our clients, partners and communities we will make the most of this historic investment in our future. The time is now to unite and leverage our collective knowledge, innovative thinking and desire for change to lead the way with bold action that has a real and lasting impact on our climate, our communities and our people.
We celebrate this historic bill. Together, building a thriving planet.