Today, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance that provides additional information about the bonus for clean energy projects and facilities under the Inflation Reduction Act (IRA). This bonus is intended to help energy communities harness the economic benefits of the clean energy boom by creating clean energy jobs and lowering energy costs.
“President Biden’s Inflation Reduction Act is driving investments in new clean power to communities that have been at the forefront of energy production, helping to create jobs and lower utility bills,” said U.S. Deputy Secretary of the Treasury Wally Adeyemo. “Today’s guidance provides clarity to companies planning investments and should help those investments move forward.”
