WASHINGTON – The Alliance to Save Energy released the following statement from President Paula Glover after Senate passage of the Inflation Reduction Act of 2022 (IRA), which includes unprecedented investments in energy efficiency. 

“The Alliance to Save Energy applauds the U.S. Senate for passing the most comprehensive climate and energy legislation in U.S. history – the Inflation Reduction Act of 2022. The IRA establishes our nation as a leader in solving for one of the world’s most pressing challenges, climate change. Among the $369 billion allocated for climate and energy are much needed investments in energy efficiency including the expansion of tax incentives, new energy efficiency rebates, advancement of energy building codes, and key policies that will drive equity and energy affordability.”   

“Energy efficiency is our nation’s most abundant energy resource, a critical component of U.S. productivity, and represents one of the largest and fastest-growing employment sectors in the energy economy. We are pleased that the Senate has voted to include important provisions in the IRA that will deliver immediate and tangible benefits to households, businesses and communities across the U.S. including: 

·      Expansion and extension of the 25C energy efficiency tax credit for homeowners that would allow at least a $1,200 credit annually for qualified energy efficiency investments; 

·      Expansion and extension of the 45L credit and 179D deduction, targeting construction of single-family and multi-family housing and commercial buildings; 

·      Rebates for consumers when purchasing and installing energy efficient upgrades;

·      Grants and other financial assistance to expand energy improvements and reduce carbon emissions in low-income and disadvantaged communities; and

·      Needed funding to facilitate the adoption of the latest energy building codes, among other investments.”

“The IRA is an important step in ensuring that all Americans have access to efficient, clean, affordable and reliable energy. The Alliance will continue to work with Congress and the Administration to ensure that energy efficiency investments are maximized. We look forward to final passage and implementation in the coming weeks.” 

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.

###