The Trump Administration is considering repealing key sections of the Inflation Reduction Act related to clean energy tax incentives. According to analysis by Energy Innovation, doing so would cost nearly 800,000 U.S. jobs and result in a $130 billion reduction in gross domestic product by 2030.
These estimates, though, according to the U.S. Green Building Council (USGBC), are probably vastly under-calculated because they only account for the clean energy provisions in the Inflation Reduction Act. If energy efficiency tax incentives were also included in the analysis, the impact on jobs and revenue would be much more devastating to the economy.
USGBC lays out three additional consequences to repealing these incentives:
Furthermore, repealing the incentives would stifle innovation and growth in American renewable and clean energy, handing China (even with tariffs) an easy win.
Greg Zimmerman is senior contributing editor for FacilitiesNet.com and Building Operating Management magazine.
