Can the wind industry capitalise on the IRA?

President Biden’s Inflation Reduction Act is expected to double the size of the US market over the next ten years, but is the industry fully equipped to meet all of the benefits on offer?

With clarity of the details in the IRA beginning to emerge, it is clear that it will have a transformative effect on the US market.

But in order to fully realise the benefits, turbine firms will need to make massive up-front investments in new manufacturing facilities based in the US to satisfy domestic content requirements or else bring existing facilities out of hibernation to ramp up production. 

The potential rewards are huge for hard-pressed turbine manufacturers which can find the necessary capital to invest but some are better placed than others to do so.

Meanwhile, there are worrying signs that the political consensus on wind power at federal level in the US has begun to unravel and a presidential election is looming on the horizon. What could the outcome mean for the IRA and the companies which are banking on it?

Finally, Europe has proposals but no firm legislation in place to compete with the IRA so does the bloc risk being left behind?

In the fifteenth episode of the Wind Power podcast, Shashi Barla, head of renewables research at Brinckmann Group, and John Begala, policy chief for the US Business Network for Offshore Wind, discuss whether the industry is ready to reap the benefits of the biggest policy driver in the history of the wind. 

To listen, simply click on the 'play' button in the graphic above, or follow and download Wind Power on Spotify, Apple Podcasts and other platforms.

This episode was produced by Czarina Deen.

To listen to previous episodes, click on the links below: