By Tim Minotas
It’s been nearly a year since Michigan passed new clean energy laws and more than two years since Congress passed and President Joe Biden signed Inflation Reduction Act into law. Now, a new report from Michigan-based 5 Lakes Energy highlights the tremendous benefits that clean energy is bringing to our state.
Thanks to the Inflation Reduction Act and Michigan’s forward-thinking clean energy laws, Michigan families will save nearly $300 per year on their energy bills through 2030. In addition to savings, the report projects more than $30 billion in investments coming to Michigan, creating jobs and supporting local businesses.
Both saving money on our utility bills and bringing more investments to our state are important, but more benefits are on the horizon. The shift to clean energy will reduce dangerous emissions in the electric power sector by 88% by 2040, leading to significant health benefits across Michigan. Michigan is anticipated to save over $7.3 billion by 2030 and $27.8 billion by 2040 by avoiding negative health outcomes such as hospitalizations, premature deaths and lost school and work days.
As reported by Michigan Public Radio, this report shows that Michigan is a clean energy leader, creating jobs, attracting new investment and reducing pollution. Let’s continue building on this progress!