Inflation Reduction Act 2023 Brings In Billions of Dollars For Clean Energy

The Inflation Reduction Act 2023 is bringing in billions of dollars in investments for clean energy in the U.S. The bill was signed into law with the goal of fighting inflation as well as an innovation for renewable energy.

Inflation Reduction Act 2023 [Photo: slate.com]

For instance, according to Gearino, the Inflation Reduction Act 2023 includes at least $391 billion in funding for climate tech as long as production of the renewable energy apparatus happens in the U.S. The apparatus reportedly includes solar panels, batteries for electric vehicles, and many more.

READ ALSO: Up To $8,000 Tax Credits From The Inflation Reduction Act: Helps You Renovate Your Home!

Inflation Reduction Act 2023 Goals

According to Guerra, another goal of the Inflation Reduction Act 2023 is to persuade companies to manufacture their products in the U.S. to make the country more independent in the production of clean energy.

Fortunately, the Inflation Reduction Act 2023 has succeeded in bringing in investments worth billions of dollars both within the U.S. and abroad. In addition, the Inflation Reduction Act 2023 also provides major tax credits for individuals who buy electric vehicles (EVs).

READ ALSO: Revolutionizing The Clean Energy Game: Inflation Reduction Act Unlocks Lucrative Market For Transferable Federal Tax Credits