Yellen asks the private sector to invest more for the US energy transition

“These investments will accelerate the transition to our green energy future and reduce energy costs for American homes and businesses.”

Biden achieved an agreement in August for Congress to approve the Inflation Reduction Act, the largest investment adopted in the United States in the fight against climate change, the amount of which was, however, largely cut in relation to the ambitions initials of the American president.

The endowment includes 370,000 million dollars to reduce greenhouse gas emissions by 40% by 2030, with the declared objective of fighting climate change and helping households cope with inflation in the medium term.

Thus, financial incentives are planned to guide the US economy towards renewable energies.

The forecasts in the automotive sector for the purchase of an electric vehicle, which can reach up to 7,500 dollars, however, arouse criticism.

In fact, they are subject to several conditions designed to ensure that vehicles are assembled in North America and that batteries are made from raw materials increasingly sourced from the region.

The investment plan also provides for the creation of 500,000 charging stations for electric vehicles throughout the country.