There are so many incentives to install solar that the Inflation Reduction Act of 2022 might be more aptly titled the 'Electrify Your Life Act.'
If signed into law as written, the climate bill before the U.S. Congress would change the calculus for American households thinking about going solar. The legislation stands to make that transition more affordable while also subsidizing purchases of electric cars, heat pumps, high-tech water heaters and battery-storage systems — clean-energy upgrades that will spur more household demand for electricity.
People are also reading… "There's no question in my mind that all these incentives will make the difference for consumers on the fence about solar, accelerating access to the technology for Americans across the country," said Suzanne Leta, senior director and head of policy and strategy at residential solar company SunPower Corp."Especially those that are low to moderate income.
Calculating solar payback times is complicated. Among other things, the time frame for recovering your investment depends on local utility rates, the price your power company pays for the solar electricity you supply and any surcharges for connecting a solar system to the grid. Another important factor is whether your rooftop system is correctly sized to match your home's power demand, especially if you plan to both electrify your house and acquire electric cars.
John Berger, chief executive officer of residential solar company Sunnova Energy International Inc., said he expects a potential bump of the solar tax credit to 30% would initially have a marginal impact on homeowners' willingness to convert.
National News 'It's a monster': California wildfire evacuees recount their escape As California residents evacuate, firefighters prepare to battle a wildfire sweeping through the U.S. state. The McKinney fire continues to bu…
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Democrats advance the Inflation Reduction Act, setting up Senate 'vote-a-rama'BREAKING: Senate Democrats passed their first procedural vote on the Inflation Reduction Act. Vice President Harris cast the tie-breaking vote.
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Senate opens debate on Biden-backed Inflation Reduction ActThe Inflation Reduction Act of 2022 is up for debate on the Senate floor. A final vote could come soon.
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Senate approves to advance Inflation Reduction Act with VP Harris breaking tieThe package, a dwindled version of earlier multitrillion-dollar measures that Democrats failed to advance, has become a partisan battleground over inflation, gasoline prices and other issues that polls show are driving voters.
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By 51-50 margin, Senate votes to begin debate on Inflation Reduction ActDemocrats pushed the legislation through the evenly divided chamber, with Vice President Kamala Harris breaking the tie and overcoming unanimous Republican opposition.
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Bernie Sanders says Inflation Reduction Act will have 'minimal impact' on inflationVermont Sen. Bernie Sanders said on Saturday that the Inflation Reduction Act being debated in Congress will have a 'minimal' impact on record inflation in the United States.
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