Source: Rochester Beacon

The federal Inflation Reduction Act of 2022 included the most comprehensive suite of legislation ever enacted to rapidly reduce greenhouse gas emissions that are warming the planet at an alarming rate. It provides an estimated $369 billion in funds targeted at building a clean electric grid, commercializing new technologies, improving building efficiency, and kickstarting the nation’s transition to electric vehicles.

The Biden administration has elected in the IRA to fight climate change primarily by incentive-based programs, giving both families and businesses the flexibility to invest in clean energy solutions that have the greatest impact for them. However, these incentives are effective only to the extent that people and institutions take full advantage of them.

Included in this package is more than $8 billion for individuals. This is a great opportunity for all of us to fight climate change and get reimbursed while doing so. Depending on your income level, incentives are in the form of federal tax credits and/or cash rebates. Additional New York State incentives are available in some categories, as outlined on the HeatSmart Finger Lakes website.

Read more: New incentives to decarbonize your home are now available