Inflation Reduction Act
Reducing Energy Inflation with the Inflation Reduction Act
What’s in the Inflation Reduction Act?
The passage of the Inflation Reduction Act (IRA) gives financial resources to individuals and business who are working toward energy efficiency and combating the effects of climate change. The act seeks to reduce inflation by reducing the deficit, and to further that goal it aims to lower costs for health care, prescription drugs, and energy. With its aggressive promotion of renewable and green energy, the IRA is helping to advance the pursuit of clean energy and the availability of new jobs in this sector. In combination with state and local governments, implementation of the IRA pushes the U.S. closer to meeting its Paris Agreement commitment to cut emissions by up to 52% by 2030.
How Does the Inflation Reduction Act Bring Down Inflation?
Aurai has partnered with several leading green-energy home service providers to work towards providing homes with cleaner energy alternatives. We are working towards fighting the climate crisis by working with these companies to modernize home heating and cooling with energy-efficient HVAC systems, solar energy, roofing, and electric vehicle charging.
Electrification Incentives Reduce Costs and Pollution
Moving from gas to electricity for household use is estimated to offer substantial cost savings for U.S. households, not to mention decrease pollution from natural gas. Switching to electricity can help reduce a household’s energy bill, but the high costs of replacing appliances like water heaters, HVAC, and stoves often prevents low- to moderate-income (LMI) people from upgrading. The IRA provides rebates of up to $14,000 for these households to purchase electric appliances. Households with income that’s less than 80% of the area’s median income are eligible for the full rebate amount, while households making 80% to 150% of the median income can get up to 50% of the rebate value. Tax incentives are available to households earning above the guidelines.
Our Industry-leading PartnersWhole-Home Upgrades for Energy-Efficient Housing
With high energy costs creating pain for U.S. consumers, more efficient homes offer a clear solution to lowering costs. The IRA includes $4.3 billion for consumer rebates on whole-home upgrades that result in household energy savings of 20% to 35%. LMI households are eligible for rebates of $4,000 to $8,000 for efficiency upgrades, and non-LMI may receive $2,000 to $4,000. The act also provides a $1 billion incentive program to support energy-efficient modifications and retrofitting on affordable housing.
Climate Benefits of the Inflation Reduction Act
With its impressive goals for reducing carbon emissions and steering homes and businesses toward improved energy efficiency, the IRA is poised to offer substantial benefits to the climate. Part of the act’s purpose is to make clean energy less expensive than fossil fuels, which in turn will reduce the pollution created by using fossil fuels.
Aurai’s Family of Brands
At Aurai, we provide services and solutions to improve energy efficiency equipment for HVAC, solar, electric vehicle chargers, battery storage, and roofing. We target our goals to help advance clean energy and increase the number of zero-carbon homes. To advance this goal, we proudly partner with:
- Absolutely Cool Air
- Babione’s Air Conditioning and Heating
- Bourque Heating and Cooling
- Cazeault Solar and Home
Aurai and our family of brands are delighted about the possibilities the new IRA offers for energy efficiency.
Contact Aurai for Details
At Aurai, we’re dedicated to the idea of providing clean, affordable, reliable energy. We provide environmentally friendly asset monitoring and management that ultimately leads to improved performance and efficiency. Our technology gives actionable data to our customers so they can react accordingly, saving money and energy. Contact us today for more information.