What is the Inflation Reduction Act?
The Inflation Reduction Act is the largest clean energy investment America has ever made, with strategic incentives to make the transition to clean energy and a decarbonized life easy and financially smart.
And what does it mean for you?
Its home energy offerings include up-front discounts, tax credits and low-cost financing that together provide a substantial pot of money for every household to electrify the machines they rely on — the cars they drive, how they heat the air and water in their homes, cook their food, dry their clothes and get their power — regardless of income level. Think of the IRA as a free electric bank account with your name on it, because that’s what it is. It’s your own personal fund to help you go electric — swapping out your old, fossil-fueled appliances for new, clean electric ones — over the next ten years. Running electric appliances and driving EVs were already becoming cheaper than fossil-fueled machines, but the IRA incentives make this financial choice even more compelling by bringing down the up front costs of electric machines themselves. Households will save on average $1,800 a year by going electric.
Want to see how much you can save? Our friends at Rewiring America have created an IRA Savings Calculator!