(Reuters) - The U.S. has doubled the pace of cutting carbon emissions since President Joe Biden's Inflation Reduction Act (IRA) passed in 2022, analysts and scientists said, with more than 80 solar, wind and energy storage projects taking advantage of the law's mix of direct payments and tax credits.
The IRA and the Bipartisan Infrastructure Law last year provided $239 billion for clean energy, electric vehicles (EVs), electrification of buildings, and carbon management in the U.S., up 38% from 2022, according to the Clean Investment Monitor, a joint project of the policy researcher Rhodium Group and MIT. Still, experts said there is a long way to go before the law can achieve Biden's wider climate ambitions of net-zero by 2050.
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