How investing in clean energy helps lower inflation
A large part of the proposed Inflation Reduction Act of 2022 includes money allocated towards clean energy. It proposes $369 billion for climate and energy programs, including incentives for electric vehicles and renewable energy.
Investing in clean energy is one of the best ways to reduce inflation. Since Russia’s invasion of Ukraine, 41 percent of overall inflation can be directly attributed to rapidly rising fossil fuel prices. Even more inflation is due to the secondary effects of high energy prices on other goods.
Why we care: Investing in clean energy will help combat the climate crisis while saving consumers money. Congressional renewable energy investments could empower Americans to save from $1,500 to $2,000 on their energy bills by electrifying their homes.
It’s good for your wallet and good for the planet – and that’s what we’re all about.
To learn more, head to Rewiring America.