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How utilities can prepare for Inflation Reduction Act impacts via bipartisan infrastructure law planning

February 8, 2023

On August 16, 2022, President Biden signed into law the Inflation Reduction Act, or IRA, which allocates $369 billion in funds to address climate change through clean energy. It aims to reduce greenhouse gas emissions about 40% below 2005 levels by 2030 through tax incentives and grants for transportation electrification, building efficiency, home energy rebates, and renewable energy, along with several other related energy-oriented and climate-focused provisions. This legislation represents the largest single climate investment to date in this country and will bring about seismic changes in the energy landscape.

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