Substantial uncertainty remains about the implementation of major provisions within the Inflation Reduction Act (IRA). It’s tempting for utilities to take a wait-and-see approach as the details of these provisions are hammered out. However, the IRA also creates clean energy opportunities and challenges that are too big to ignore. Now is the time to prepare.
The IRA’s electrification incentives will power a wave of new electric demand as consumers seize incentives to buy electric vehicles, heat pumps, and other energy-efficient, climate-friendly products. This new demand could boost revenue, but it could also threaten reliability for utilities that aren’t prepared.
Read this paper to learn:
- Five actions utilities should assess and prioritize in order to prepare for IRA-related opportunities and challenges
- Communication priorities with regulators, state energy offices, and customers related to the IRA
- Key considerations for different types of utilities, depending on their corporate structure (investor-owned, cooperative, municipal utility) and lines of business