The Inflation Reduction Act has put US climate goals on track. An emission-free economy is within reach, and we now have the tools needed to rebuild our energy infrastructure. Let’s see how the 350 billion dollars of climate investments are being leveraged.
Clean Energy Adoption
$27 billion to support the deployment of low-and zero-emission technologies
$7,500 tax credit for the purchase of new EVs or a $4,000 tax credit for used EVs
$1 billion for clean heavy-duty vehicles (school & transit buses + garbage trucks)
Tax Credits & Programs
30% tax credit on energy-efficient & clean energy home improvements
2.5-year extension of existing solar investment tax credit (ITC) at 30%
New tech-neutral ITC at 30% until 2032
- 10% bonus in tax credits is extended to projects built in low-income areas
- 20% bonus in tax credits is offered to projects serving more than 50% of low-income subscribers
- 10% bonus in tax credits is extended to projects built using domestic content
New tech-neutral production tax credit (PTC)
Nexamp is ready to help property owners evaluate the exciting opportunities provided through the Inflation Reduction Act. Combined with the generous New Jersey Successor Solar Incentive (SuSI) program, there’s never been a better time to benefit from and support clean energy.
If you’re interested in learning more, go to https://www.nexamp.com/power-purchase-agreements/ to explore onsite solar or https://www.nexamp.com/host-a-solar-farm to learn about hosting a solar farm. You can speak with our team directly and we can discuss your building or portfolio options. From there, we will provide you with a detailed proposal. And if you’d like to move forward, we will work with you to meet your clean energy goals.