WASHINGTON – The Alliance to Save Energy released the following statement from President Paula Glover in response to President Biden’s signing of the Inflation Reduction Act of 2022 (IRA).

“The Alliance to Save Energy applauds today’s signing into law of the Inflation Reduction Act of 2022 (IRA) by President Biden. The IRA will result in historic investments in energy efficiency,” said Glover, “including expansion of key energy efficiency tax credits and deductions, in addition to needed rebate programs to incentivize energy efficiency retrofits and upgrades in low-income and disadvantaged communities. Today’s investments will drive reductions in carbon emissions, add reliability to the electric grid, and help ensure energy savings and affordability for consumers and businesses across the nation.”

“The tax and rebate incentives alone equal just over $23.5 billion in energy efficiency investments,” Glover stated. “That said, the new law also includes $1 billion to facilitate adoption of the latest building energy codes; over $3 billion for emission reductions and energy efficiency in Federal buildings; nearly $27 billion to support deployment of energy efficient, clean energy, and carbon reductions technologies and strategies— including $15 billion targeting low-income and disadvantaged communities; and more. The IRA is a critical step in the right direction, and we look forward to working with the Administration, Congress, the regulatory agencies, and others as the legislation now moves toward implementation.”

About the Alliance to Save Energy

Founded in 1977, the Alliance to Save Energy is a nonprofit, bipartisan alliance of business, government, environmental and consumer leaders working to expand the economy while using less energy. Our mission is to promote energy productivity worldwide – including through energy efficiency – to achieve a stronger economy, a cleaner environment and greater energy security, affordability, and reliability.