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The Inflation Reduction Act: Key Highlights and Strategic Insights
9/16/24
The Inflation Reduction Act (IRA) is reshaping American industries with its historic investment in clean energy and climate action. However, slow adoption could jeopardize our 2030 environmental goals. At Crete United, we advocate for proactive planning and swift action to stay ahead.
Key Metrics – 2 Years In:
- $265 billion in clean energy investments since the IRA passed
- 330,000+ new jobs in clean energy
- 250,000+ electric vehicle tax credits claimed in 2024
- $110 billion in clean energy manufacturing investments
- Home energy rebates projected to save consumers up to $1 billion annually
A Game-Changer for Clean Energy and Sustainability
Enacted 2 years ago, the IRA represents the largest clean energy investment in U.S. history, with over $265 billion in new investments and 330,000+ new jobs across nearly every state. The IRA is making clean energy more accessible, with over 250,000 Americans claiming electric vehicle tax credits in 2024 alone, saving about $1.5 billion. Home energy rebate programs are also rolling out, helping families afford energy-efficient upgrades.
Navigating the Future: Planning for 2030 and Beyond
Effective planning begins with measuring energy use and benchmarking against national standards. Comprehensive evaluations of equipment and energy management systems will help identify priority projects for efficiency and emissions reduction, many of which qualify for IRA tax incentives.
Strategic Insights from Crete United Experts
For a more detailed insight, download our full Inflation Reduction Act white paper and watch our latest video with Courtney Miller, VP of National Accounts, and Dane Lindholm, Sr. Director of Finance, exploring the IRA’s market impact.