Federal Agencies Launch Clean Energy Incentive Finders and Tax Credit Hub

In addition to spurring private investment in large-scale clean energy deployment, the Inflation Reduction Act (IRA) created home energy programs for consumers, local officials, and advocates. To spread the word, several federal agencies have launched hubs to help organizations and consumers learn about the programs:

This Friday, the Environmental Protection Agency’s ENERGY STAR program  is launching a new Incentive Finder to help consumers choose home energy products that qualify for benefits such as tax rebates.

The Department of Energy’s Energy Savings Hub at energy.gov/save details opportunities for both homeowners and renters to lower their energy costs and benefit from the Inflation Reduction Act and other programs.

Last week, the Treasury Department launched a new Inflation Reduction Act Tax Resource Hub at Treasury.gov/IRA that provides tools to assist consumers and other taxpayers in accessing key tax credits.

Inflation Reduction Act Tax Credits

• Families who install rooftop solar, geothermal or battery storage at home can save up to 30 percent of the cost of the installation via a tax credit and save nearly $400 per year on their energy bills.
• The IRA offers bonus tax credits for community solar development that serves low-income residents or is located in low-income areas, in addition to the 30 percent Investment Tax Credit available to all solar projects. Community solar has the potential to expand access to all, including customers who are unable to manage the up-front cost of solar installation, or those who rent a home or business office.

 

Photo: White House chart