![]() ![]() The IRA modifies and expands the Production Tax Credit (PTC) and Investment Tax Credit (ITC) for 10 years and creates a new “direct pay” option (applicable to both). ![]() Department of Energy, the clean energy credits found in the IRA and those in the Infrastructure Investment and Jobs Act ( P.L.117-58) will reduce carbon emissions by 1,000 million metric tons in 2030. These measures will save American families more than $1,000 per year on utility bills, helping many people reduce high energy burdens, and will help the United States cut its carbon emissions by 40 percent by 2030 and reach its clean energy goals. 117-169) that are geared toward combating climate change is the inclusion of $30 billion in clean energy tax credits for resources such as solar and wind energy and battery storage. For a broader overview and additional information about the new law, read our article, "How the Inflation Reduction Act and Bipartisan Infrastructure Law Work Together to Advance Climate Action."Īmong the many funding measures included in the Inflation Reduction Act (IRA) ( P.L. This article is part of a series examining the recently-passed Inflation Reduction Act, a wide-ranging law that includes tax reforms, healthcare investments, and $369 billion to address the climate crisis. Environment & Energy Congressional Round-Up.House and Senate Renewable Energy & Energy Efficiency Caucuses.Congressional Renewable Energy and Energy Efficiency EXPO.National Security and Energy Independence. ![]()
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