The Wall Street Journal article highlights how the 2022 climate law in the U.S., particularly the Inflation Reduction Act, has attracted nearly $110 billion in clean-energy investments, with a significant portion coming from foreign companies, especially from South Korea, Japan, and China. Despite the law’s intention to strengthen domestic supply chains for green-energy industries, the technological expertise residing overseas means that these foreign entities are poised to claim billions in tax credits as major beneficiaries. This influx of foreign investment underscores the challenges and opportunities in balancing national goals for building a domestic clean-energy sector with the realities of a globalized economy and the existing distribution of technological expertise in renewable energy and battery production.

https://www.wsj.com/articles/the-biggest-winners-in-americas-climate-law-foreign-companies-c672e09d