Biden administration surpasses $100 billion in clean energy grants under IRA

The Biden administration has surpassed $100 billion in clean energy grants through the Inflation Reduction Act (IRA), as confirmed by John Podesta, the president’s senior advisor for international climate policy.  

Podesta emphasized the swift disbursement of funds, stating, “Crossing the milestone of $100bn awarded shows just how quickly we’re getting these funds out the door and into communities so they can make a real difference for the American people.”

The administration is on track to exceed its goal of disbursing more than 80% of IRA grant funding by the end of Biden’s term in January 2025. 

Funds allocated under the IRA are protected under contract law, making them less vulnerable to political changes.

The IRA has provided significant tax incentives for clean energy projects, including wind and solar, with Republican-led states receiving a majority of the benefits. 

Recent awards include a $119 million contract to electrify federal buildings and $147 million for climate research by NOAA. 

The US Department of Agriculture has also allocated $256 million through the Rural Energy for America Program.