Here’s how the bill addresses the affordability of clean energy sources like residential solar, electric vehicles (EVs) and energy efficiency retrofits: Consumer Tax Credits for Clean Energy Drew Angerer / Getty Images Making Clean Energy AffordableĪlthough clean energy products have finally hit the mainstream, their expense makes them inaccessible to most Americans. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters during a news conference at the U.S. To preface, the legislation is subject to change. Increasing the resilience of rural communitiesīelow, we’ll debrief top takeaways from the 2022 Inflation Reduction Act, and what they mean for the future of energy.Decarbonizing all sectors of the economy.So what exactly would the package entail? How would it affect the everyday consumer if passed?įirst, let’s go over the main climate-related challenges that the legislation aims to address: The renewable energy industry, long frustrated with the roadblocks to the Build Back Better Act, breathed a sigh of relief with the announcement. on a path to cut emissions 31% to 44% below 2005 levels in 2030. If enacted, the legislation would be the biggest climate change action to-date, putting the U.S. On Wednesday, Senate Democrats announced a surprise agreement on a $369 billion climate and tax package.
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