Greg Puschnigg: Benefits of Inflation Reduction Act

The Inflation Reduction Act signed into law a year ago is helping companies like ours invest in communities, while also protecting the environment and saving consumers money. The Inflation Reduction Act is helping bring back made-in-America manufacturing, with construction spending for manufacturing reaching its highest level in 60 years.

Over the past year, businesses have announced more than 270 new clean energy projects, creating over 170,600 jobs in 44 states. Many of these jobs are in communities of color, which are disproportionately impacted by climate change. More than half of these new jobs are located in Republican congressional districts.

But as some Republicans push the federal government toward shutdown, House Republicans continue trying to gut the Inflation Reduction Act — even as some celebrate the jobs coming to their districts. If they succeed, we will lose these new jobs and investments.

Since the Inflation Reduction Act was passed a year ago, a total of $197.1 million worth of investments in clean energy projects and hundreds of jobs have been announced in Pennsylvania. We represent just a few of the many innovative, forward-thinking clean energy companies doing business in the commonwealth.

There are currently around 542,600 Pennsylvania workers with manufacturing jobs, and as of 2021, 92,773 Pennsylvanians working in clean energy. If we continue to take proactive steps to embrace renewable energy, these numbers are only going to grow.

Wind and solar now cost less than coal, oil and methane gas. The cheaper that technology like solar panels, electric vehicles and lithium-ion batteries gets, the more accessible and widespread clean energy will become.

Thanks to tax credits in the Inflation Reduction Act, an estimated 610,000 Pennsylvania households will install solar panels, allowing these families to save money on electric bills. New homeowners can also save hundreds of dollars on utility bills through grants that encourage the adoption of up-to-date energy codes.

The Inflation Reduction Act is broadly popular with Pennsylvanians once they’re given information about the plan’s goals and accomplishments. Yet Republicans have tried to repeal it no less than 17 times. As executives helping to lead the charge on clean energy, we’re urging our leaders not to let that happen.

Technological innovation and economic progress don’t need to be synonymous with environmental devastation. We can add new, good-paying jobs that don’t require college degrees while also reducing pollution and avoiding the worst of the climate crisis scenarios. We’re currently on track to lower emissions beyond what we thought was possible a year ago.

It’s true that the transition to a clean energy economy won’t happen overnight. The right technology needs to be in place. Workers need proper training so they don’t get left behind. But the climate crisis is getting worse, and we don’t have time to waste.

We must keep moving forward — not let short-sighted politicians drag us backwards. If we take the time to put the right pieces in place now and make our commonwealth and our country a welcoming place for new investments and innovation, all of us will benefit.

Greg Puschnigg is the founder and CEO of BOSS Controls Inc., headquartered in Pittsburgh.