THE FEDERAL FUNDING OUTLET

INFLATION REDUCTION ACT TOOLKIT

The Inflation Reduction Act (IRA) will provide millions of Southern families with relief by lowering prescription drug costs, health care costs, and energy costs.

WHAT IS IRA?

The Inflation Reduction Act (IRA) is an enormously consequential bill that will lower the cost of living for America’s families. The legislation reduces the price of prescription drugs, health care, and energy for Americans — all while fighting inflation and reducing the deficit. It makes the largest investment in U.S. history to combat the climate crisis. It will increase American energy security, create good-paying jobs, and position the United States to be a world leader in clean energy.

INSIDE THE IRA TOOLKIT

SEAP PRODUCTS COMING SOON…

MORE RESOURCES

With the passage of the IRA, non-profits and houses of worship now have easier access to clean energy funds and tax credits through a program called “direct pay.” Before the IRA, only homeowners and commercial entities with some tax liability could claim tax credits when installing solar panels, wind turbines, or other eligible technologies on an eligible property. Now, the “direct pay” option means non-taxable entities can also benefit from these credits.

 

Interfaith Power and Light (IPL) has created this faith community resource spreadsheet to help houses of worship identify federal grant and tax credit opportunities that are available.

In January of 2020, President Biden issued Executive Order 14008. The order directed the Council on Environmental Quality (CEQ) to the Climate and Economic Justice Screening Tool. The tool has an interactive map and uses datasets that are indicators of burdens in eight categories: climate change, energy, health, housing, legacy pollution, transportation, water and wastewater, and workforce development. The tool uses this information to identify communities that are experiencing these burdens. 

Rewiring America, a leading electrification nonprofit focused on electrifying our homes, businesses, and communities, has developed the IRA Calculator to help households figure out how much they can receive.

This article by the Center for American Progress provides details on how the IRA provides numerous financial incentives for purchasing climate-friendly technologies, creating significant savings opportunities for households.

 

Linked below is a guidebook developed by the White House providing insight into the IRA's investments in clean energy and climate action.

 

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