The Inflation Reduction Act (IRA) was introduced with the promise of prosperity, but are those hefty goals holding true?
Late last July, the United States’ IRA was introduced with the aim of encouraging a faster, more productive transition to renewable energy. The act was meant to spur more investment in the green economy, meaning sectors of business that have to do with the environment — including clean energy but also things like electric vehicles, agriculture technology, and more.
For the everyday American, this meant a promise of more jobs that are high-paying, secure, and unionized, plus a cleaner environment that can help mitigate the effects of climate change and lower energy bills for the average household.
The act came into effect last November. And if the question is whether it’s been effective in achieving these goals, the answer is a firm “yes!”
The IRA Is Bringing in Jobs by the Dozen
According to data from BlueGreen Alliance, a nonprofit organization dedicated to promoting clean energy, dozens of new jobs have already come onstream since the IRA kicked off.
“The Inflation Reduction Act is already doing BIG THINGS for America’s communities, economy, and our environment,” the group said in a recent statement. “In fact, since the law has gone into effect nearly 80 new clean energy manufacturing facilities or expansions have been announced, an investment equal to the previous seven years combined.”
On EcoCareers, too, we’ve seen a noticeable increase in job openings, and other job board websites have also reported a similar trend. Right now, there’s such a wealth of job openings that businesses have started offering apprenticeships and other, alternative opportunities to get more workers to come onboard. The number of new jobs hasn’t created the millions promised yet, but it certainly seems well on its way.
Job Creation Potential of the IRA
When the US government introduced the IRA, it said it has the potential to create nine million jobs or more within a decade’s time. That’s no small figure, and BlueGreen Alliance research took steps to break that down and show exactly which industries these jobs could emerge in.
The clean energy field is where the bulk of new jobs could be generated, which is to be expected given that this is the main focus of the green transition. But other industries have strong potential too. Take, for instance, the environmental justice field.
This marriage between environmental science and the law isn’t what most people think of when they’re talking about renewable energy jobs. But it is a viable, growing industry that could see around 150,000 new jobs being created thanks to the IRA.
The possibilities do indeed seem endless and growing in renewable energy, and EcoCareers is doing its part to help make people aware of the wide range of job opportunities that arise.