The Inflation Reduction Act of 2022 (August 12th 2022)So what is...

The Inflation Reduction Act of 2022 (August 12th 2022)
So what is it exactly?
A $US485 billion (about $A690 billion) spending package aiming to bring down American healthcare costs, cut carbon emissions, and boost economic and climate resilience.

Moody’s wrote this week: “The Inflation Reduction Act will potentially boost energy security and innovation in clean technology, while the CHIPS Act could enhance industrial efficiencies by promoting high-tech R&D and basic research in artificial intelligence, quantum computing and other new technologies.
Frank does mention on Finance News Network, that production will be in the, "more towards Energy Stationary Storage space, but a couple also in the Transportation space".

“Combined with the $1 trillion Infrastructure Investment and Jobs Act enacted last November, which included significant investments in clean-energy technologies, these bills will likely unlock additional private-and public-sector investment, boost domestic manufacturing, enhance US competitiveness and benefit a range of sectors,” Moody’s pointed out.
“The long-term tax credit commitments for wind and solar, wrapped up in a $430 billion bill passed by the U.S. Senate on Sunday, were joined by new credits for energy storage, biogas and hydrogen".

The Inflation reduction Act contains $US369 billion in investment to help US companies, communities and governments to transition to low-carbon energy.
Consumers will get rebates on electric vehicles, energy-efficient household appliances, and solar panels.

Federal loans will support manufacturers of solar panels and large batteries.
The Build Back Better Act concentrates on the lithium-ion battery to EV supply chain with tax incentives and efforts to drive localisation.

The bill also includes a 10% Advanced Manufacturing production tax credit across the breadth of the lithium-ion supply chain, which would help ease the cost burdens facing battery manufacturers and automakers. This 10% tax credit begins with the production of critical minerals and extends midstream for cathode and anode materials. An investment tax credit is also included for the energy storage and production tax credit for battery cell manufacturing with a cost of $35 a kilowatt-hour. President Joe Biden earlier this year invoked the Defense Production Act (DPA) to step up US production of minerals for electric vehicle and storage batteries and lower the nation’s reliance on foreign supply. Lynas and Syrrah’s loans are cases in point. Separately, the US Department of Energy (DOE) has dedicated $US3.16 billion of funding as part of the Bipartisan Infrastructure Law to develop the country’s battery supply chain. The funding will be allocated across the supply chain, with the bulk of it being made available to mid-stream processing to cathode, anode and battery cell production.