The Inflation Reduction Act’s name may become a misnomer. The Inflation Reduction Act’s (IRA) name may become a misnomer if investment surges while supply chains remain constrained – fueling inflation. That’s according to a new BofA Global Research report, which dubbed the IRA the most important, and largest, federal green energy and climate package in U.S. history. “Many tax credit programs included in the IRA specify certain labor requirements that could prove restrictive and drive up project costs,” the BofA Global Research report stated. “Transmission is a critical piece of the energy transition (particularly onshore) but does not play a prominent role in the IRA. The U.S. has struggled to build transmissions lines from areas of abundant renewables, like the Midcontinent (wind) and Southwest (solar), to key demand centers,” the report added. “The IRA is certain to spur more investment in renewables-rich regions, which could lead to even more […]