Another step closer to weaning off dirty fossil fuels

Last summer, President Biden signed the Inflation Reduction Act, which included the largest federal investment in clean energy of all time.

The law includes big incentives for utilities and manufacturers to produce more clean energy here in the US. But the fantastic news is that it provides tax incentives for regular folks like you and me!

From 1990 to 2015, carbon emissions from residential and commercial buildings have increased from 7.8% to a whopping 20.4%. Cutting emissions from towering skyscrapers to the smallest house on the corner will make a big difference in the fight against climate change.

While cutting emissions on your home or apartment saves money in the long run, it can be expensive upfront.

Enter the Inflation Reduction Act!

Here are some ways to earn a tax credit, reduce your carbon footprint, AND save money.

🌞Install rooftop solar. You can receive a tax credit for 30% of the cost of rooftop solar installation. Installed it last year? You're eligible for a credit on your 2022 taxes.

💡Improve energy efficiency in your home and appliances. You can receive up to $1,200 in credit for adding insulation or more efficient windows and doors and up to $2,000 in credit for an electric heat pump. Low and moderate-income families can access rebates covering up to 100% of the cost.

🔥Replace your furnace or AC. Households can receive a 30% tax credit up to $2,000 for the cost of buying and installing a heat pump – including electrical system upgrade costs. State programs will also offer low- and moderate-income households rebates to cut expenses upfront.

🚗Buy an electric vehicle. You can receive a $7,500 tax credit on a new vehicle if assembled in North America and $4,000 on a used vehicle over two years old. Bought an electric car last year? You may qualify for a credit on your 2022 taxes.

You can find more information about these tax credits and rebates here.

Saving money and cutting emissions? I think you'll agree this is a win-win for the American people.

We are one step closer to weaning off dirty fossil fuels thanks to these incentives. That's excellent news for our people and planet.

Rob