The Inflation Reduction Act includes tax credits that reimburse governments for clean energy investments. New online resources make the program more understandable and accessible.
In Brief:
- The Inflation Reduction Act includes tax credits for tax-exempt entities that can repay costs for clean energy projects.
- The program, which has not attracted the same level of attention as credits for private investment, is open to an unlimited number of applicants.
- The process for obtaining these credits is unlike that of any previous program, and online resources have recently been published to make it easier to navigate.
In the two years since the Inflation Reduction Act (IRA) was signed into law, IRA tax credits for private-sector clean energy projects have been widely celebrated and estimates of the investment they have sparked range from $125 billion to $265 billion. Credits that repay energy investments by public agencies and other tax-exempt organizations have received much less attention, but a new online tool aims to redress the imbalance.
governing.com
by Carl Smith
Aug. 16, 2024