The Inflation Reduction Act, signed by President Biden on August 16, represents the most important federal climate legislation ever signed into law. It is estimated that the bill will reduce the country’s greenhouse gas emissions by about 40% below the nation’s previous peak. There are incentives you can get now while others will take effect on January 1, 2023.

Electric Vehicles

The bill extends the $7500 tax credit for many EV cars, but the rules are complicated and change over time. Some EVs which qualify for incentives now may not qualify after the first of the year, while some that don’t qualify now will after January 1, 2023. So if you are considering getting an EV check out our EV project page now for the most up-to-date fact sheet on EV Financial Incentives.

Home Electrification

The law includes many ways to reduce the greenhouse gas emissions from your home. Tax credits for rooftop solar are available immediately. After January 1, tax credits become available for home energy efficiency upgrades, heat pumps for space conditioning and hot water heaters, electrical panel upgrades, home weatherization, and battery storage–no matter one’s income. Additional tax credits are available for families with income thresholds.

These home electrification incentives can be substantial adding up to as much as $14,000 per household. Check out the list of incentives available and how much you may qualify for by using the Rewiring America calculator. and find more electrification tips on our Electrify LO page.