SEWC Statement on the Passage of the Inflation Reduction Act of 2022
For immediate release: August 8, 2022
Media Contact: Karly Lohan, Communication and Outreach Associate. email@example.com
Raleigh, N.C. - Yesterday, the U.S. Senate passed the Inflation Reduction Act of 2022, which is the single largest climate and energy investment in history. The bill is intended to fight inflation and spur domestic energy production by reducing regulatory barriers and making strategic investments in the clean energy supply chain. With over $369 billion in climate, resilience, and energy investments, this bill represents a historic stride in the Biden Administration’s goal to cut carbon emissions 50% from 2005 levels by 2030.
The bill represents a huge win for the offshore wind industry. Among many transformative pieces, the package includes a provision to allow leasing along the continental shelf in areas that were prohibited under an executive order from former President Trump. The moratorium went into effect on July 1, 2022, and prohibited all offshore leasing for energy exploration, development or production off the coasts of Florida, Georgia, South Carolina, North Carolina, and Virginia.
This bill builds on previous commitments made by the Biden Administration to support clean energy development and dramatically reduce carbon emissions. It also creates actionable pathways toward achieving the Administration’s goal of 30 gigawatts of offshore wind by 2030.
Katharine Kollins, President of the Southeastern Wind Coalition, released the following statement regarding the bill: “The Southeastern Wind Coalition applauds the bipartisan leadership that helped carry the offshore wind leasing provisions and clean energy investments in the Inflation Reduction Act of 2022 to the finish line. These provisions represent a historic climate investment and help to bring the Southeast closer to capturing the massive economic and climate benefits of offshore wind.”
Congresswoman Deborah Ross (NC-02) released the following statement regarding the lift of the offshore wind leasing moratorium: “The former administration’s arbitrary offshore wind leasing moratorium would stifle the growth of our clean energy economy in North Carolina and throughout the region. Our state is perfectly positioned to lead this multi-billion dollar industry, with our offshore wind energy generation potential and a capable manufacturing workforce ready to embrace this opportunity. Since coming to Congress, I have fought to overturn the moratorium, and I am excited that we are finally getting it done."
The Southeastern Wind Coalition is a 501(c)3 that works to advance the land-based and offshore wind industry in the Southeast. We focus on supply chain growth, economic development, job growth, and wind energy development in the region with solutions that are beneficial to industry, utilities, and result in net economic benefits to citizens and ratepayers. For more information about the Southeastern Wind Coalition visit http://www.sewind.org.