Robinson Meyer

In 2022, President Biden signed the Inflation Reduction Act, ushering in, by some estimates, nearly half a trillion dollars of investment in green energy and manufacturing. But what will happen to this huge investment as Donald Trump enters office? Jigar Shah is one of the best people to answer this question. As the director of the Loan Programs Office at the Department of Energy, he has spent his career finding new ways to finance green infrastructure. And he’s more optimistic than you might expect about the road ahead. In this conversation, guest host Robinson Meyer, a contributing writer for New York Times Opinion and the founding executive editor of Heatmap News, asks Shah for a progress check on decarbonization. They discuss what has changed about the economics and financing of clean energy; what has worked well in the green energy transition, as well as the trade-offs it has entailed; and what may or may not change as Trump enters office.

The Inflation Reduction Act was the largest piece of climate legislation ever passed in the United States, setting aside hundreds of billions of dollars for decarbonizing the economy. But the money was always just a first step. The fate of the act’s goals hinges on whether those investments can build the energy system of the future — everything from transmission lines and wind farms to electric vehicle factories and green hydrogen hubs. It’s now been almost a year since the I.R.A.’s passage. So, how’s it going? Are we on track for a decarbonized economy? Robinson Meyer is a contributing writer to Times Opinion and the founding executive editor of Heatmap, a new publication covering the ins-and-outs of decarbonization in America. We discuss why estimates of the I.R.A.’s investments vary so drastically, whether the Biden administration is being too timid in how it gives out the money, the collision between the investments we need to decarbonize and the laws intended to protect the environment, why permitting has proved to be such a debilitating obstacle, why red states are projected to attract almost double the I.R.A. investments compared to blue states (and how that could pose a thorny political problem for the Biden administration), whether the country can decarbonize while competing with China and much more.