The US’s Inflation Reduction Act contains legislation to reduce emissions and increase sustainable energy. This Bill includes support for making sustainable technologies cheaper, to produce and to buy, for emerging and established low-carbon technology companies. This includes support for companies producing wind turbines, solar panels, electric vehicles, and a range of other green technologies.
Due to this support, there is hope that this increase in greener technology in the US will also increase how other countries view green technology. Which has the potential to create a larger number of opportunities in the green technology sector worldwide. There are also opportunities for companies in the UK who are ahead of the US in regards to technology to work alongside US companies. This is especially viable in regards to UK heat pump companies as heat pump technology in the US is behind. This will give a wanted boost to UK companies within the green technology sector.
This will give a wanted boost to UK companies
within the green technology sector.
Many UK companies are beginning to get ready for the passing of the Bill by increasing their operations in the US. Even though the Bill is largely aimed at American companies, there is huge potential for the Bill to cause a spill-over that will benefit the UK through US companies’ supply chains.
This Bill will not only create benefits for companies, but it may also prove to be a kickstart for other countries to start taking climate change more seriously or increase their efforts to lower their emissions. The US is one of the biggest greenhouse gas emitters worldwide, and their move towards greener legislation may cause a ripple effect that will make other countries consider doing the same.
