Inflation Reduction Act
The Inflation Reduction Act of 2022 (IRA), Pub. L. 117–169 (text) (PDF), is a United States federal law which aimed to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting renewable energy.
Electricity sector of the United States
The United States has the second largest electricity sector in the world, with 4,430 Terawatt-hours of generation in 2025. In 2024 the industry earned $514b in revenue (1.8% of GDP) at an average price of $0.129/kWh.
Subsidy
A subsidy, subvention or government incentive is a type of government expenditure which redistributes from tax payers to individuals, households, or businesses. Subsidies take various forms, such as direct government expenditures, tax incentives, soft loans, price support, and government provision of goods and…
Power purchase agreement
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price.
2020s energy crisis
An energy crisis from 2021 to 2023 began in the aftermath of the COVID-19 pandemic, resulting in shortages and increased prices in oil, gas and electricity markets. The crisis was particularly acute in Europe, and especially following the Russian invasion of Ukraine, the energy crisis became popularly associated with…
Carbon emission trading
Carbon emission trading (also called carbon market, emission trading scheme (ETS) or cap and trade) is a type of emissions trading scheme designed for carbon dioxide (CO2) and other greenhouse gases (GHGs). A form of carbon pricing, its purpose is to limit climate change by creating a market with limited allowances…
Limitation of the Vend
The Limitation of the Vend was a historic price fixing cartel of coal mine owners of north east England. Its principal customers were ships' captains who purchased cargoes of coal and aimed to resell them in other parts of England; but above all in London which, by becoming the planet's first large mineral-fuelled…
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Feed-in tariff
A feed-in tariff (FIT, FiT, standard offer contract, advanced renewable tariff, or renewable energy payments) is a policy mechanism designed to accelerate investment in renewable energy technologies by offering long-term contracts to renewable energy producers. This means promising renewable energy producers an…
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