In 2022, President Biden signed the Inflation Reduction Act, ushering in, by some estimates, nearly half a trillion dollars of investment in green energy and manufacturing. But what will happen to this huge investment as Donald Trump enters office?

Jigar Shah is one of the best people to answer this question. As the director of the Loan Programs Office at the Department of Energy, he has spent his career finding new ways to finance green infrastructure. And he’s more optimistic than you might expect about the road ahead.

In this conversation, guest host Robinson Meyer, a contributing writer for New York Times Opinion and the founding executive editor of Heatmap News, asks Shah for a progress check on decarbonization. They discuss what has changed about the economics and financing of clean energy; what has worked well in the green energy transition, as well as the trade-offs it has entailed; and what may or may not change as Trump enters office.

Book Recommendations:

Fooled by Randomness by Nassim Nicholas Taleb

What If We Get It Right? by Ayana Elizabeth Johnson

Romney by McKay Coppins

Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.

You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.

This episode of “The Ezra Klein Show” was produced by Rollin Hu [Who]. Fact-checking by Michelle Harris, with Mary Marge Locker and Kate Sinclair. Mixing by Isaac Jones, with Efim Shapiro and Aman Sahota. Our supervising editor is Claire Gordon. The show’s production team also includes Elias Isquith, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser.

Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.