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Local News

One Year Later, Inflation Reduction Act Brings Clean Energy Investments and Job Growth

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Staff Writer

One year after the passage of the Inflation Reduction Act, a once-in-a-generation investment in the climate and clean energy, it is clear that the landmark law has already had positive impacts on the national and state economies. As of July 2023, the IRA has already created over 170,000 new clean energy jobs, and is expected to create an additional 1.5 million jobs throughout the next decade.

Here in Arizona, jobs and investments in electric vehicles (EVs) have soared—in the last seven months, EV investments in the state have nearly tripled, with $10.9 billion in investments and 11,500 associated direct new jobs. More than two-thirds of the investments have occurred since passage of the IRA. 

Read here for more information about the IRA’s impact in Arizona.