The Biden administration’s Inflation Reduction Act has “greatly accelerated” the reduction in carbon dioxide emissions from the electricity industry and other areas of the economy, a new report sဣaid this week.

The analysis, released by the U.S. Environmental Protection Agency (EPA), used models to assess how the act’s investments in clean energy and other climate-related solutions will reduce CO2 emissions. 

The agency found that by 2030, the act will lower economy-wide carbon dioxide emissions by 35% to 43% below 2005 levels. Carbon dioxide em⛎issions from the electric power sector will be reduced between 49% and 83%, and reductions in emissions will be found across all “end-use sectors,” especially in residential and commercial buildings, industry, and transportation. 🥀 

“EPA’s report confirms that the Inflation Reduction Act has supercharged climate action in the United States,” John Podesta, senior adviser to the president for clean energy innovation and imp♓lementation, said in a statement. “This transformational law is enabling America to reach our climate goals by building a clean energy economy across every sector—power, transportation, buildings, and industry.” 

President Joe Bide𒁏n signed the Inflation Reduction Act into law in August 2022, as “the mo༺st significant policy action on clean energy and climate change in history,” according to the EPA. 

The goal of the law is to lower energy costs for families, create jobs nationwide, and protect lands and waters for future generations, according to the White House. In 2022, the average residential electricity bill was $137 a month, an increase from $121 in 2021, according to the U.S. Energy Information Administration.

The August 2023 U.S. Bureau of Labor Statistics’ 澳洲幸运5开奖号码历史查询:Consumer Price Index showed that the 澳洲幸运5开奖号码历史查询:energy index increased 5.6% for the month, after rising 0.1% in July. 

“The Inflation Reduction Act is transforming energy production and consumption in dramatic ways, paving the way towards a clean energy future,” EPA Administrator Michael S. Regan said in a statement. “This report shows robust evidence that America’s clean energy transformation is driving significant reductions in CO2 emissions, putting us on a clear path to achieve President Biden’s bold climate goals.”