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How to qualify for Inflation Reduction Act climate tax breaks, rebates

For households, the incentives help make things like rooftop solar panels, electric vehicles and energy-efficient appliances more affordable, in a bid to more quickly transition the U.S. toward cleaner sources of energy.

The Inflation Reduction Act, passed by House Democrats on Friday and headed to President Joe Biden’s desk for his signature, is the most ambitious climate spending package in U.S. history — and households that take steps to improve their energy efficiency stand to reap financial benefits.

The package would pump $369 billion into measures to fight climate change, boost energy security and lower electricity costs for consumers.

Largely, those investments take the form of financial incentives — such as tax breaks and rebates — for households and businesses.

Read More: https://www.cnbc.com/2022/08/13/how-to-qualify-for-inflation-reduction-act-climate-tax-breaks-rebates.html