Emissions and Energy Impacts of the Inflation Reduction Act

If goals set under the Paris Agreement are met, the world may hold warming well below 2 C; however, parties are not on track to deliver these commitments, increasing focus on policy implementation to close the gap between ambition and action. Recently, the US government passed its most prominent piece of climate legislation to date, the Inflation Reduction Act of 2022 (IRA), designed to invest in a wide range of programs that, among other provisions, incentivize clean energy and carbon management, encourage electrification and efficiency measures, reduce methane emissions, promote domestic supply chains, and address environmental justice concerns. IRA's scope and complexity make modeling important to understand impacts on emissions and energy systems. We leverage results from nine independent, state-of-the-art models to examine potential implications of key IRA provisions, showing economy wide emissions reductions between 43-48% below 2005 by 2035

Least cost energy system pathways towards 100% renewable energy in Ireland by 2050

Studies focusing on 100% renewable energy systems have emerged in recent years; however, existing studies tend to focus only on the power sector using exploratory approaches. This paper therefore undertakes a whole-system approach and explores optimal pathways towards 100% renewable energy by 2050. The analysis is carried out for Ireland, which currently has the highest share of variable renewable electricity on a synchronous power system. Large numbers of scenarios are developed using the Irish TIMES model to address uncertainties. Results show that compared to decarbonization targets, focusing on renewable penetration without considering carbon capture options is significantly less cost effective in carbon mitigation. Alternative assumptions on bioenergy imports and maximum variability in power generation lead to very different energy mixes in bioenergy and electrification levels. All pathways suggest that indigenous bioenergy needs to be fully exploited and the current annual deployment rate of renewable electricity needs a boost. Pathways relying on international bioenergy imports are slightly cheaper and faces less economic and technical challenges. However, given the large future uncertainties, it is recommended that further policy considerations be given to pathways with high electrification levels as they are more robust towards uncertainties

Emissions and energy impacts of the Inflation Reduction Act

Economy-wide emissions drop 43 to 48% below 2005 levels by 2035 with accelerated clean energy deployment

Data for Bistline, et al. (2023) "Power Sector Impacts of the Inflation Reduction Act of 2022"

<p>These files contain input assumptions, results, and figures associated with the Bistline, et al. (2023) article "Power Sector Impacts of the Inflation Reduction Act of 2022" in <i>Environmental Research Letters</i>. Please refer to the original paper for details: https://doi.org/10.1088/1748-9326/ad0d3b</p&gt

Power sector impacts of the Inflation Reduction Act of 2022

The Inflation Reduction Act (IRA) is regarded as the most prominent piece of federal climate legislation in the U.S. thus far. This paper investigates potential impacts of IRA on the power sector, which is the focus of many core IRA provisions. We summarize a multi-model comparison of IRA to identify robust findings and variation in power sector investments, emissions, and costs across 11 models of the U.S. energy system and electricity sector. Our results project that IRA incentives accelerate the deployment of low-emitting capacity, increasing average annual additions by up to 3.2 times current levels through 2035. CO _2 emissions reductions from electricity generation across models range from 47%–83% below 2005 in 2030 (68% average) and 66%–87% in 2035 (78% average). Our higher clean electricity deployment and lower emissions under IRA, compared with earlier U.S. modeling, change the baseline for future policymaking and analysis. IRA helps to bring projected U.S. power sector and economy-wide emissions closer to near-term climate targets; however, no models indicate that these targets will be met with IRA alone, which suggests that additional policies, incentives, and private sector actions are needed

Leveraging open-source tools for collaborative macro-energy system modeling efforts

The authors are founding team members of a new effort to develop an Open Energy Outlook for the United States. The effort aims to apply best practices of policy-focused energy system modeling, ensure transparency, build a networked community, and work toward a common purpose: examining possible US energy system futures to inform energy and climate policy efforts. Individual author biographies can be found on the project website: https://openenergyoutlook.org/. DeCarolis et al. articulate the benefits of forming collaborative teams with a wide array of disciplinary and domain expertise to conduct analysis with macro-energy system models. Open-source models, tools, and datasets underpin such efforts by enabling transparency, accessibility, and replicability among team members and with the broader modeling community