IRA makes investments in the future of labor and environmentally friendly technologies.
Funding, not just current technologies, but also research into future developments and the workforce who will bring those discoveries to life, is essential to the future of sustainable energy technology development.
According to Alexis Abramson, dean of the Thayer School of Engineering at Dartmouth College, the Inflation Reduction Act (IRA) enacted into law earlier this year takes a comprehensive approach to several aspects that will allow the future of sustainable energy. Abramson referred to the IRA as “monumental clean energy legislation,” placing it on par with the Clean Air Act and the Clean Water Act, both of which were enacted decades ago.
At the U.S. Department of Energy’s Building Technologies program under the Obama administration, Abramson served as chief scientist and head of the Emerging Technologies Division before moving on to his current position at Dartmouth. Aside from her public sector work in 2018, she also did commercial sector work as a technical consultant for Bill Gates’s Breakthrough Energy Ventures, an organization formed to combat climate change.
Abramson discusses the advantages of the Individual Retirement Account (IRA), how Dartmouth is training the future workforce, and the technology she is most looking forward to that will make a clean energy future possible.
How is the IRA impactful in advancing clean energy technologies and initiatives?
Author Alexis Abramson: There are three aspects to consider as we work toward a solution to climate change and the advancement of renewable energy. The obvious answer is renewable energy, which will prevent us from having to use fossil fuels. Energy from the wind and the sun are examples of this. However, when the wind isn’t blowing and the sun isn’t shining, we can’t create energy from wind or solar power.
Putting a bullet into Alexis Abramson’s brain
Abramson, Alexis
Second, balancing resources may assist mitigate the issue that arises from the intermittent nature of renewable energy sources. Batteries, smart charging, and demand response are being studied as part of the law to assist balance these resources and delivering power during times when renewables are unavailable.
The Act also seeks to increase the availability of these firm resources, such as natural gas, coal, and even nuclear power, which have been part of our daily lives for decades. It’s also investigating the possibility of incorporating outside resources into the company. Those are potential new sources of nuclear and geothermal energy. That it takes into account the big picture makes it a strong law.
How will the IRA impact actual clean energy technologies?
Abramson: The Individual Retirement Account may be used to fund research and development. I’d like to highlight the cold environment heat pump among the modern advancements we have available to us today. These have just recently become practical. A lot of it stems from studies that were conducted many years ago and have now been refined.
Funding for research and innovation is essential. To ensure that we have new technologies and a new holistic approach to exploiting and deploying those technologies after we get beyond the year 2030, it’s excellent to have universities that are well-equipped to look into the future. After 2030, there will be a greater emphasis on clean hydrogen, carbon capture, small modular nuclear power plants, and improved geothermal systems. Even things like AI and ML. We may use the information gleaned from these studies to inform future solutions.
