About IRA
The Inflation Reduction Act of 2022 (IRA) is a United States federal law that allocates $369 billion for "Energy Security and
Climate Change", marking the largest climate investment in American history. The IRA aims to reduce carbon
emissions by 40% below 2005 levels by 2030 and allocate $60 billion to environmental justice communities,
promoting clean energy accessibility and reducing pollution. American households will receive assistance
from
the IRA through rebates and tax credits to make energy-efficient upgrades, contributing to energy usage
reductions and lowering household energy bills.
There are a few rebate programs and tax credits made available through the IRA:
These programs will not only help relieve inflation costs for American households but also provide stability
for
the future, as these electrical upgrades emit less carbon dioxide and have predictable operating costs.
Furthermore, investing in energy efficiency upgrades can create jobs in the energy efficiency sector, reduce
greenhouse gas emissions, and improve indoor air quality and comfort, making it a critical initiative that
benefits both the economy and the environment.