Studies show that unless utilities retire all their coal plants by 2030, phase out fossil fuels, and aggressively build out renewable energy resources, we risk destabilizing our livable climate. President Biden’s Inflation Reduction Act (IRA), passed in August 2022, includes more than $125 billion in tax credits for wind, solar, and energy storage projects to help achieve our climate and clean energy goals.

Yet in a new memo, Leaving Money on the Table: Utilities Failing to Leverage the Inflation Reduction Act, Sierra Club finds many utilities are failing to take advantage of these game changing credits. 

Key Findings

Of the utilities evaluated: 

• 20 percent failed to even reference the IRA in their planning
• 32 percent failed to include the provisions in the IRA in their models
• Only 10 percent modeled the tax credit bonuses made available in the law
• Zero adequately considered all of the far-reaching implications of the IRA

Explore the Report

• Download the report (PDF)
• See the interactive map
• Read the press release

Learn More

• Take advantage of the IRA in your community 
• Read Sierra Club’s annual report on utility climate pledges

Contact

For questions about the report, please contact Noah Ver Beek (noah.verbeek@sierraclub.org) and Jessica King (jessica.king@sierraclub.org).