The federal Inflation Reduction Act of 2022 (IRA) represents the most ambitious climate legislation in U.S. history. This transformative law marks unprecedented investments in clean energy, energy efficiency, and emissions reduction. By offering a wide array of incentives—including tax credits—it aims to make clean energy solutions more accessible and affordable for households, businesses, and public institutions nationwide.
A key innovation within the IRA is the introduction of "elective pay," also known as direct pay. This mechanism allows tax-exempt entities—like nonprofits, municipalities, and tribal governments—to receive clean energy tax credits as direct payments, even if they don’t have tax liability. Essentially, it ensures that everyone, regardless of their tax status, can benefit from these tax credits to adopt clean energy.
To make navigating these opportunities simple, this website is divided into three sections:
- Residential – Explore federal tax credits and rebates available to homeowners for solar panels, energy-efficient upgrades, and more.
- Commercial – Learn about tax credits tailored to businesses, from installing electric vehicle (EV) chargers to transitioning to renewable energy sources.
- Direct Pay for Tax-Exempt Organizations– Find out how tax-exempt organizations can take advantage of clean energy tax credits and received direct payments under the elective pay provision.
Dive into the section that fits your needs and discover how the IRA can help you take the next step toward a more affordable, cleaner, greener future!