In 2022, the U.S. passed the largest climate and energy investment bill, known as the Inflation Reduction Act (IRA). This law is designed to help 100 million homes save money on solar power and make homes more energy efficient. A significant solar manufacturer conducted a survey to learn how Americans are reacting to this bill and their interest in clean energy.

The survey revealed that many people have become more conscious of their energy consumption due to rising electricity costs. People are increasingly interested in government support for adopting renewable energy, particularly solar energy. In fact, 61% of those considering switching to solar said they would do so if there were government incentives.

Surprisingly, about one in four Americans (58 million people) has never even heard of the IRA. Even among those who know about it, more than half (51%) are not aware of its energy-efficient tax credits, and over a third (39%) don’t believe they qualify.

Understanding the IRA can seem overwhelming, but it’s worth it. Once people learn about it, they are 50% more likely to believe they can afford solar energy and twice as likely to plan energy-efficient upgrades to their homes.

Discover the Top Ten Benefits of the IRA: It is a comprehensive policy, but we’ve simplified it for you. 

Learn about the top benefits that can save you money, enhance energy reliability, and reduce your carbon footprint.

  1. 30% (ITC) solar Investment Tax Credit for installing solar from 2022–2032.
  2. 30% Tax Credit for installing solar storage.
  3. Tax credits for home builders.
  4. Up to $7,500 in Tax Credit on qualifying EV purchases.
  5. 30% Tax Credit for EV chargers.
  6. $8,000 rebate on heat pumps.
  7. $1,750 rebate on heat pump water heaters.
  8. $840 rebate on stoves, cooktops, ranges, and ovens.
  9. Rebates on breaker box upgrades and rewiring needed for a solar system.
  10. Cleaner air—a 40% improvement in greenhouse gases is expected from 2005 levels.

Additional Tools from Partners: Going green is a unique journey for everyone, but it’s essential for achieving our climate goals. Check out these resources from our partners to make informed choices:

  • SEIA’s Solar Portal: Learn about solar power options, financing, and making informed decisions for your family.
  • Department of Energy’s EV Searcher: Find electric vehicles eligible for IRA tax credits and learn more about requirements.
  • Sierra Club’s IRA Fact Sheet: Discover rebates and programs for energy-efficient home upgrades.

To learn more about how you can take advantage of the IRA and switch to solar, go to Wolf River Electric.