The $369 billion allotted for climate and energy provisions in the Inflation Reduction Act of 2022 will have wide-ranging impacts on public and private companies for decades as they brace for an influx of ready-made funds in the space.

Why it matters: Climate technology companies stand to benefit as much as, if not more than, everyday consumers, from better access to a tranche of funds — via grants, loans, credits or subsidies — that didn't exist even earlier this week.

Zoom in: Companies in developing industries like direct air capture will now have an entirely new pool of capital — albeit through a slew of bureaucratic mechanisms — to pull from should the bill pass.

State of play: The bill would provide tax credits and other incentives to spur the development and deployment of clean energy and carbon abatement technologies, our Generate colleagues Ben Geman and Andrew Freedman write.

Yes, and: The bill also allocates $48 billion to the Department of Energy's Loan Programs Office, which has already indicated its aggressive stance on spurring along domestic battery production, among other electrification priorities.

The bottom line: The Inflation Reduction Act could produce a once-in-a-generation gold rush for climate technology companies.