On December 15, the White House added a new Guidebook to the Inflation Reduction Act to its clean energy webpage. The Guidebook is a valuable resource to help businesses, organizations, and individuals secure access to the billions of funding dollars and incentives funds available under Inflation Reduction Act (IRA) to invigorate a clean energy transition over the next 10 years.
As we have discussed, the IRA created incentives, tax relief, and grant funding for a wide spectrum of clean energy projects, including manufacturing and recycling clean energy technology, transition to clean energy production; and community-based environmental justice projects. The IRA is daunting in its breadth and scope, and potential beneficiaries can find it difficult to sort through the provisions to find an incentive program that fits a project profile. To ease this process, the Guidebook outlines how to find out more about each program, covering such topics as:
- project descriptions, eligibility, and types of funding (including grants, loans, loan forgiveness, tax credits);
- which executive office is in charge of each program;
- the amount of money available; and
- where to find more information.
Additionally, each department responsible for distributing IRA funds have webpages devoted to IRA funding opportunities. See for example, EPA’s webpage here and the US Department of Agriculture’s webpage here.
The IRA is designed to unleash the power of federal funding to help transition the American economy from one reliant on coal and petroleum to one that diversifies its energy resources. Researchers, local communities, states, tribes, building owners, manufacturers, and energy developers are just some of the beneficiaries of IRA programs. Funds are available in many of these programs nearly immediately and the Guidebook is an excellent resource to assist in understanding the opportunities.
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