Renewable Energy — Wind, Solar, & Storage — Get Big Boost From Inflation Reduction Act
invented by the fossil fuel industry to permit it to continue with the thermal generation of electricity. It’s a bait and switch proposition that says, “Let us continue to burn coal and methane today to make electricity and we promise we will suck the carbon emissions we create back out of the atmosphere at some unspecified date in the future.” It’s similar to the pledges made to clean up old mines and wells.
The legislation also includes other incentives to get fossil fuel companies to spend what is needed to fix the ongoing leaks in their pumping and transmission infrastructure.heat pumps Many homes will need their electrical panels upgraded before these appliances can be installed and the program offers up to a $4,000 rebate for such improvements. To make homes more energy efficient, a rebate up to $1,600 will be available to insulate and seal a house. A rebate of up to $2,500 is also offered for improvements to electrical wiring needed to support all those new electric appliances.
For homeowners who do not qualify for the rebates, the IRA provides for a tax credit of up to $2,000 to install heat pumps. Other energy efficiency measures such as installing an induction stove or new windows and doors qualify for tax credits up to $1,200 a year.
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