August 9, 2022
Source: NJ Spotlight News
It is dubbed the Inflation Reduction Act, but to New Jersey clean-energy advocates the bill, expected to win final approval in Congress this week, is a much-needed boost to quickly transition the state away from fossil fuels.
The compromise legislation proposes to spend $369 billion over 10 years on clean energy and to promote climate resiliency. The bulk of the investment is in new and enhanced tax credits for solar, wind and other renewable energy technologies to produce carbon-free electricity.
Read more: NJ climate push wins big in Senate vote