DOE Official Says Energy Loans May Roughly Double IRA’s Climate Funds

A top Department of Energy (DOE) official says the Inflation Reduction Act’s (IRA) funds for the department’s loan program for low-carbon projects could approximately double the statute’s generally understood climate investments of $369 billion, underscoring the law’s massive forthcoming federal support for clean energy. The often-cited estimate of the law’s climate spending “actually pretty dramatically understates the total scale of investment,” argued Jeremiah Baumann, chief of staff at DOE’s Office of the Undersecretary of Infrastructure, during a Sept. 20 event...