Press Mention Chattanooga Times Free Press September 4, 2022
SACE Quoted
Law could power new energy measures, but Volkswagen, other companies still waiting on details
In this mention
The article discusses President Biden's Inflation Reduction Act and its potential impact on renewable energy and electric vehicle production. Stephen Smith, executive director of the Southern Alliance for Clean Energy, praises the law as a game-changer that provides unprecedented financial support for clean energy technologies. The piece notes that companies like Volkswagen are awaiting implementation details before committing to new energy initiatives.
This absolutely is a game changer from our organization's perspective. This is something we've been working on for 20 years. ... This injects more serious financial support into these technologies than any bill that has passed in the United States in relation to no-carbon or low-carbon technologies.
Stephen A. Smith
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Full transcript
Law could power new energy measures, but Volkswagen, other companies still waiting on details
September 5, 2022
by
Andy Sher
NASHVILLE — Supporters of President Joe Biden's sweeping Inflation Reduction Act predict the new law's $369 billion of environmental and tax provisions will dramatically speed the growth of renewable and clean energy efforts, promote independence from China when it comes to electric vehicle battery production, and help address climate change with carbon emission reductions of some 40% during the next decade.
"This absolutely is a game changer from our organization's perspective," said Stephen Smith, executive director of the Southern Alliance for Clean Energy, in a phone interview. "This is something we've been working on for 20 years. ... This injects more serious financial support into these technologies than any bill that has passed in the United States in relation to no-carbon or low-carbon technologies."