It's Official - the Inflation Reduction Act is here!
It’s official - the Inflation Reduction Act has been signed into law by President Biden!
The biggest clean energy investment in history will make solar, energy storage, and electric vehicles and fleets more accessible to businesses and nonprofit organizations like never before.
So what does it actually mean for you?
Commercial solar comes with a 30% discount for businesses, courtesy of the extended Investment Tax Credit (ITC).
This 30% discount is available to businesses via transferable credit
This 30% discount is available to nonprofit organizations as a Direct Payment
Energy storage systems - batteries - also now qualify for the 30% discount, even as a standalone project
A further 10% can be added for using US-manufactured equipment in your project.
There is also 10% for being located in a former fossil fuel energy community, and 10% for selling the electricity via community solar to low income families – the tax credit could potentially reach 60%.
Electric bills in California have increased 39% since 2018 and 30% since the beginning of the COVID-19 pandemic, so this news is good timing in many ways.
Send us an electric bill and let us show you how much the Inflation Reduction Act could help you save!