10 Clean Energy Benefits – Inflation Reduction Act
On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law giving you easier access to clean energy and clean energy benefits.
The White House reported that “President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle outgiving tons of Americans access to clean energy benefits.”
Beyond health care, this bill has a host of tax credits, discounts, and incentives on everything from electric cars to solar power. This is the best time for you to switch to renewable and efficient energy. There are tons of amazing clean energy benefits for individuals like you that want to save money on their power bill, gain reliable home energy and reduce their carbon footprint.
For instance, do you already have a solar system but are thinking about adding a storage? Solar batteries are a storage system which helps to protect your family against those power outages. Starting in 2023, you can get a 30% tax credit on a solar battery and any other solar/electric investment you make including a rooftop solar installation.
However, there are some limitations on this bill and extra benefits for those who qualify. It all depends on your income level, location, or other personal factors. Here are the top 10 clean energy benefits you should know:
Are you interested in knowing how these benefits apply to you? We offer customers tax services to help you understand how this bill may benefit you based on your current circumstances. Contact Us to learn about these benefits and if they may apply to you!
The United States Government. (2022, August 15). By the numbers: The Inflation Reduction Act. The White House. Retrieved October 24, 2022, from https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/15/by-the-numbers-the-inflation-reduction-act/
Zahn, M. (2022, August 17). Calculate how much Biden’s Inflation Reduction Act may save you. ABC News. Retrieved October 24, 2022, from https://abcnews.go.com/Politics/calculate-bidens-inflation-reduction-act-save/story?id=88458834