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The Inflation Reduction Act, signed into law by President Joe Biden in August 2022, has allocated $400 billion in federal dollars for clean energy projects as the United States aims for up to a 40% reduction in economy-wide greenhouse gas emissions by 2030. Private investment into climate tech startups is on track to match, and likely surpass, the government’s funding, particularly as investors feel secure in a growing market for such technologies. In the past year, more than 270 new clean energy projects have been announced, with private investments totaling around $132 billion, according to an August report from Bank of America Global Research.

United statesJoe bidenCassie bowePuneeth meruvaAmerica global researchIndustrial demonstrations programCongressional budget officeEnergy impact partnersForm energyInflation reduction actPresident joe bidenAmerica globalTrucks venture capitalEnergy impactSolar investment tax creditAdvanced manufacturing production credit