In response to the passage of the Energy Security Provisions in Inflation Reduction Act, the Copper Development Association (CDA) released the following statement from Andrew G. Kireta, Jr., president and CEO at CDA:
“The Copper Development Association commends Congress on the passage of the biggest clean energy investment in our nation’s history. This groundbreaking investment in America’s clean energy technologies will accelerate the adoption of electric vehicles, electric school buses, solar and wind applications, and energy storage systems.
We are on the cusp of the biggest shift in our energy usage since the oil era began at the turn of the 20th century. Electrification is at the heart of the energy transition, and copper is critical for electrification. It is essential for motors, batteries, transformers, inverters, wires, switches, and cables, among others. Copper has the highest conductivity of any nonprecious metal, allowing it to more efficiently transmit electrical energy from the generation source to the point of use with less energy lost along the way. It is also 100 percent recyclable and has well-established scrap capture and recycling streams.
The copper industry is thankful for the Congressional leaders who worked hard on this piece of legislation, and we are working hard to meet the needs of the energy transition in a sustainable manner that also creates American jobs. However, for the U.S. to realize the full benefits of the clean energy transition, a sustainable, substantial, and secure supply of copper is vital.”