Here’s More Info on Incentives in the Inflation Reduction Act

John Horst of the National Renewable Energy Lab read last week’s blog post about the Inflation Reduction Act’s impact on the building sector and provided some valuable additional information.

For starters, he made me aware of the White House website, which has a listing of tax credits and grants under the IRA which pertain specifically to each state. Click here to view the IRA tax credits and grants that apply to Colorado. It’s a two-page PDF with paragraphs about those financial incentives plus job creation, manufacturing, cleaner air, rural opportunities and “resilient communities.”

One new incentive that hasn’t gotten a lot of coverage is the $4,000 upfront discount on the purchase of used electric cars and trucks. In the past, there was no incentive for purchasing a used EV, and the $7,500 incentive for a new EV came only as a tax credit on the following year’s tax return.

Making both incentives an “upfront discount” will make both incentives much more attractive and useful to car buyers and will accelerate the adoption of electric vehicles.

John also provided a link to a list of 59 state and federal tax credits (both personal and corporate), loan programs, grant programs, rebate programs, sales tax incentives, regulatory policies, energy standards and more — each with its own link for further information. (The above link gives the information for Zip Code 80401, but you can select a different ZIP Code anywhere in the country on that website.)

Green Home of the Month for March 2021

   Steve Nixon is a project manager at the National Renewable Energy Laboratory. He had this home built to his specifications in 2012. It has many passive solar features, solar photovoltaics, and a heat recovery ventilator, which are all explained  at GreenHomeOfTheMonth.com. Outside, it has a buffalo grass lawn requiring no water or mowing, and drip irrigation for its garden.