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ARTICLE · 09 AUGUST 2022

Inflation Reduction Act Of 2022: Energy Security And Climate Change Programs

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The bill would offer significant consumer and manufacturer incentives in the form of grants, loans, and tax credits.

United StatesEnergy and Natural Resources

Snapshot of Incentives

Consumer incentives include tax credits for clean and efficient energy, $9 billion in home energy rebate programs, a $4,000-$7,500 tax credit for qualified individuals to purchase zero-emission vehicles, and $1 billion in grant programs for energy efficiency housing projects.

Manufacturer incentives include $60 billion in production tax credits toward qualified clean energy generation and storage and would provide financing to promote electric vehicle manufacturing, including $2 billion in grants to convert existing auto manufacturing facilities into clean vehicle factories and $20 billion in loans to construct new clean vehicle manufacturing facilities.

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