Inflation Reduction Act presents a major opportunity
Steel is a critical material in the transition to a low-carbon economy. It’s required for nearly all of our clean energy infrastructure and products – from hydropower and geothermal, to concentrated solar power installations and the more obvious technologies like wind turbines, transmission lines, solar PV and electric vehicles.
The manufacturing incentives, tax credits, and mandates included in the IRA will drive demand for these technologies and in turn, steel, which is already expected to increase more than a third by 2050.
It may seem like a chicken or the egg problem, but the decarbonization of steel and our power systems must be tackled simultaneously.
Read more in CEO Tadeu Carneiro’s article in Renewable Energy World here.