The U.S. Senate has approved a $700bn economic package that includes major legislation on climate action.
Billed as the biggest legislative win for the environmental movement since the Clean Air Act, the Inflation Reduction Act will help put the U.S. back as a global lead on climate alongside the EU.
According to The Whitehouse, 'this law represents the single most aggressive action the U.S. has taken to tackle the climate crisis and create clean energy solutions in American history. The law will reduce about a gigaton (a billion metric tons) of greenhouse gas emissions in 2030 and position America to meet President Biden’s climate goals of cutting climate pollution in half by 2030 and reaching net-zero emissions by no later than 2050'.
Recognizing the importance of energy efficiency and reduction in carbon emissions will no doubt increase demand for our technologies that significantly reduce energy usage, and in turn have an impressive impact on CO2 emission reduction, resulting in savings of up to 30% on our customer's fuel bills.
To capitalize on this exponential market opportunity, we continue to develop ideas with multinationals through the Renewable Thermal Collective (RTC), and in addition, we've launched the Thermal Energy Carbon Consortium (TECC) to help our food and beverage clients accelerate the adoption of carbon reduction approaches and technologies.
Through the publication of whitepapers, verifying our technology and our growing relationships with industry giants through the RTC and TECC, we further cement our position as the leading edge in the carbon reduction market.
Having already delivered our technology in 44 U.S. states, Thermal Energy will continue to monitor this development to ensure we realize the potential impact on our U.S. customers, and continue our proactive development in this important market.