{"id":17876,"date":"2022-09-19T23:06:20","date_gmt":"2022-09-20T05:06:20","guid":{"rendered":"https:\/\/ases.org\/?p=17876"},"modified":"2023-11-12T23:56:25","modified_gmt":"2023-11-13T06:56:25","slug":"ira","status":"publish","type":"post","link":"https:\/\/ases.org\/ira\/","title":{"rendered":"Inflation Reduction Act – Clean Energy Overview & Highlights"},"content":{"rendered":"

Clean Energy Overview & Highlights<\/span><\/strong><\/h1>\n

The Inflation Reduction Act (IRA) is the largest climate bill in U.S. history. A primary policy focus of the IRA is providing tax credits, rebates and loans to support the deployment of clean energy, the increased adoption of fully and partially electric vehicles, and retrofits of homes and buildings to increase energy efficiency and reduce electricity costs. This is an unprecedented level of policy support from the U.S. federal government. Please see below for some highlights and how this bill can benefit you and\/or your business:<\/span><\/p>\n

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Residential Clean Energy Credit:<\/strong> A 30% tax credit for residential installations of clean energy (including solar, battery storage, etc.) is offered through the end of 2034.<\/span><\/p>\n

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HOMES Rebate Program:<\/strong> This program allocates $4.3B for state-level rebates for energy-saving residential retrofits through the end of 2031.<\/span><\/p>\n<\/div>\n

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Energy Efficient Home Improvement Credit:<\/strong> There is a 30% tax credit for residential efficiency investments (including insulation, windows, heating\/cooling appliances, etc.) that is offered through the end of 2032.<\/span><\/p>\n

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High-Efficiency Electric Home Rebate Program:<\/strong> This program allocates $4.5B for state-level rebates for home electrification investments, specifically for low and moderate-income households.<\/span><\/p>\n

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Clean Vehicle Credit<\/strong>: A $7,500 tax credit for the purchase of new electric vehicles is offered through the end of 2032.<\/span><\/p>\n

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Previously Owned Clean Vehicle Credit:<\/strong> A $4,000 tax credit supports the purchase of used electric vehicles.<\/span><\/p>\n<\/div>\n<\/div>\n

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All of these policy incentives are projected to increase the deployment of clean energy, electric vehicles, and energy efficiency investments. This is an unprecedented level of policy support from the U.S. federal government. Please note that not all households are eligible for all credits and rebates. Consult with state-specific program specialists, tax accountants, and energy professionals about potential savings for your household.<\/span><\/span><\/p>\n

Deeper Dive into the IRA…<\/span><\/strong><\/h1>\n<\/div>\n

The following are excerpts from the <\/span>White House\u2019s Inflation Reduction Act Guidebook<\/span><\/a>. (Some parts have been lightly edited for brevity, but the section titles are preserved to allow easily referencing the full guidebook.) Please note that not all households are eligible for all credits and rebates. Consult with state-specific program specialists, tax accountants, and energy professionals about potential savings for your household.<\/span><\/p>\n

For a more visual representation of the IRA\u2019s incentives, check out <\/span>the Inflation Reduction Act Infographic<\/span><\/a>.<\/span><\/p>\n

Financing and Expediting Deployment of Clean Energy Technologies<\/span><\/h2>\n