Edison International's (EIX, Financial) CEO, Pedro Pizarro, highlighted the importance of maintaining clean energy and electric vehicle tax credits under the U.S. Inflation Reduction Act (IRA). He emphasized that retaining these incentives is crucial for both businesses and consumers. Pizarro spoke on this topic during the COP29 conference in Baku, stressing the direct benefits of these credits on company finances and customer savings.
The Edison Electric Institute (EEI), which includes members like Edison International and Duke Energy, is actively engaging with the Trump administration and Congress to preserve these credits. The act's incentives for storage, transmission, nuclear, hydrogen, and electric vehicles are vital for ongoing sector growth, according to Pizarro.
Despite Trump's pledge to repeal the IRA, which stands as a key element of the U.S. climate change strategy, the move requires Congressional support. Trump’s team is working on broader tax reforms, potentially removing the $7,500 consumer tax credit for electric vehicle purchases.
Additionally, the Zero Emission Transportation Association, representing major EV and battery manufacturers, is advocating to retain these critical tax incentives.
