Yellen warns of risks of over-concentration of clean energy supply chains – by Andrea Shalal ( – August 14, 2023)

LAS VEGAS (Reuters) – The United States is working to build resilient, diversified clean energy supply chains to protect its economic security, while guarding against the risks posed by over-concentration in a handful of countries, U.S. Treasury Secretary Janet Yellen said in remarks prepared for an event in Las Vegas on Monday.

Yellen will touch on the challenges of transitioning away from fossil fuels in a major speech she will deliver after touring a union facility where workers are learning skills to work on clean energy projects.

Yellen’s speech comes days before the one-year anniversary of the Inflation Reduction Act (IRA), which includes $500 billion in new spending and tax breaks that aim to boost clean energy, reduce healthcare costs, and increase tax revenues.

Yellen plans to laud the continuing resilience of the U.S. economy while underscoring the importance of key legislation like the IRA in helping to rebuild the U.S. manufacturing base and “reduce chokepoints, mitigate disruptions, and protect our economic security.”

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