ABB welcomes the Inflation Reduction Act’s historic clean energy and climate investments

ABB welcomes the Inflation Reduction Act’s historic clean energy and climate investments

  • ABB will work with customers and government agencies to leverage the $369 billion investments, build a low-carbon future, and create jobs.
  • ABB’s technology will support customers in accelerating the vision of the Inflation Reduction Act, building out electric vehicle charging capacity, and rapidly reducing emissions.

ABB is committed to working in step with federal, state, and local governments, as well as its customers, to advance the goals of the Inflation Reduction Act signed into law by U.S. President Joe Biden. The historic Act – the largest investment in climate initiatives in U.S. history – provides $369 billion in funding for clean energy initiatives, electric vehicle (EV) adoption, and greenhouse gas reduction.

ABB products and services touch every sector of the U.S. economy from transportation to utilities to buildings, and the company will help customers make critical investments in America’s energy ecosystem. With its hundred-year history of innovation, ABB is primed to provide technologies to reduce planet-warming emissions and mitigate the worst impacts of climate change, while creating American jobs.

“ABB’s expertise and technologies will enable our customers to convert these landmark investments into practical, affordable solutions that will fortify America’s infrastructure and build a more sustainable economy,” said Michael Plaster, ABB’s Lead Business Manager for Electrification in the United States. “For decades, ABB has supported America’s electrification journey, and we’ll continue helping the U.S. reach its climate goals by rapidly deploying renewables, building out a nationwide network of EV chargers, slashing emissions, and ultimately – providing a healthier, safer planet for the next generation.”

The Inflation Reduction Act will accelerate ABB’s leadership position in critical industry sectors that include renewable energy, electrification of vehicles and buildings, and methane reduction.

Renewable energy transition

Through clean energy tax credits and other incentives to deploy renewable energy, the Act will enable massive scaling of solar and wind projects – both at the community and utility level. From building components in wind turbines to supporting energy storage solutions, ABB’s technologies are entrenched in every aspect of the renewables industry. Worldwide, the company has supplied components such as generators, electrical panels, and low-voltage products for more than 40,000 wind turbines.

Electrifying America’s vehicles

ABB’s EV chargers are electrifying all forms of transportation including personal vehicles, fleets, and school and transit buses. In addition to incentives towards the purchase of EVs, the Inflation Reduction Act importantly extends tax credits for EV chargers through 2032. With ABB’s unmatched experience in creating, installing, and maintaining charging infrastructure, the organization is already playing a critical role in electrifying America’s transportation sector. As the legislation drives deployment of electric vehicles and chargers of all kinds, ABB is ready to help ensure that all Americans and every corner of the U.S. economy can enjoy the benefits of e-mobility.

Enabling energy efficiency in buildings

The Act encourages saving energy and lowering emissions by incentivizing energy efficiency in commercial buildings. ABB’s rapidly advancing innovations will support a future where a building’s operating systems are integrated and respond automatically to the demands of its occupants – resulting in buildings that produce more energy than they use, minimize emissions, and offer occupants new levels of comfort, health, and safety. For example, ABB Smart Buildings recently announced artificial intelligence technologies that autonomously drive HVAC systems to increase efficiency, lower costs, and reduce emissions. With ABB’s innovative solutions, the country can better address the sustainability challenges in the commercial real estate sector, which is a significant contributor to America’s carbon footprint.

Locating and cutting methane emissions

The Inflation Reduction Act creates a Methane Emissions Reduction Program to reduce the leaks from the production and distribution of natural gas and provides grants, rebates, and other incentives to monitor and reduce methane emissions. ABB’s cutting-edge methane leak detection technology continues to serve a crucial function by uncovering dangerous leaks across United States. By efficiently searching for and quickly finding gas leaks fast, ABB Ability™ natural gas leak detection technology makes pipeline operations safer, reduces emissions, and manages cost.

Since 2010, ABB has invested $14B in the U.S. with plant expansions, operational improvements, state-of-the-art equipment, products, and people, making it the company’s largest market. With approximately 20,000 employees in more than 40 manufacturing and distribution facilities, ABB is investing, growing, and serving across America through industries that create jobs, encourage innovation, and achieve a more productive, sustainable future.

ABB (NYSE: ABB) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com

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