Power companies say grants and tax credits will help them bring down the cost of a shift away from fossil fuels for customers. There is some GOP support for the Inflation Reduction Act as it pours money into politically conservative areas.
President-elect Donald Trump’s promise to cut off money from President Joe Biden’s massive climate law would upend the plans of Minnesota’s energy industry, which is expecting billions in federal subsidies to help it meet a state deadline for a carbon-free electric grid.
In the two years since a Democrat-controlled Congress passed the Inflation Reduction Act, it has become a fixture in the energy landscape for developers, power companies in big cities and small nonprofit cooperatives in rural areas.