# Inflation Reduction Act enacts ~$369B in US clean-energy and climate investment

Date: 2022

The Inflation Reduction Act, signed into law on 16 August 2022, dedicated roughly $369 billion to energy security and climate programs, including ten-year extensions of production and investment tax credits for solar, wind, geothermal, clean hydrogen and storage. It is widely described as the largest climate and clean-energy law in US history and was designed to accelerate domestic renewable deployment. The package was the product of months of Senate negotiation led by Senator [Joe Manchin](/people/econ-joe-manchin), then chair of the Energy and Natural Resources Committee, alongside Majority Leader [Chuck Schumer](/people/chuck-schumer).

## People

- Joe Manchin: https://factrail.ai/people/joe-manchin

## Drivers

- Renewable capacity buildout: https://factrail.ai/drivers/energy-renewable-buildout

## Sources

_Sources are listed on the canonical page._

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/energy-fact-ira-signed-2022