JACKSON, Wyo. — Have you heard about the unprecedented climate and energy funds that were approved on August 7? Curious about what the Inflation Reduction Act (IRA) means for you? Join us to learn more about funding available for transportation and energy projects through the Inflation Reduction act along with local transportation and energy SPET Ballot Items.
Yellowstone-Teton Clean Cities will be joined by Energy Conservation Works to present key elements of the bill related to transportation and energy funding opportunities and incentives.
This bill will reduce greenhouse gas emissions by about 1 gigaton in 2030, or a billion metric tons – 10 times more climate impact than any other single piece of legislation ever enacted. This should lead to a 40% reduction in emissions by 2030. While investing $369 billion in energy security and climate change programs, the Inflation Reduction Act helps dispel the myth that clean transportation, efficiency, and renewable energy are too expensive. The programs in the IRA will create an estimated 9 million jobs and save families thousands of dollars on home energy bills.
Sustainability Series began in 2012 with the realization that there were many overlapping outreach events between similarly-minded organizations. This is when Yellowstone-Teton Clean Cities began to partner with Energy Conservation Works and Integrated Solid Waste and Recycling to put on a monthly series, highlighting local sustainability efforts with the intention of providing information and resources for anyone to easily add sustainability efforts to their life.
What does the IRA mean for the electric vehicle (EV) industry and fleet electrification? Along with tax credits for the EVs themselves, the IRA includes increased credit amounts for electric vehicle supply equipment (EVSE), along with billions in funding to boost domestic manufacturing and other requirements that will strengthen the U.S. supply chain. This bill will increase the affordability of new and used electric vehicles, as well as the related infrastructure for individuals and companies. Overall, the bill will make it a lot easier and cheaper to transition to electric vehicles. We will discuss the specifics in further detail during this event to make sure you understand the opportunities and can take advantage of them.
At a glance, what does this mean for energy in my home? Big rebates and real money taken off of energy project costs for homes. Big, Direct Consumer Rebates, meaning $14,000 for high-efficiency electric home improvements and $8,000 for efficiency and electrification retrofits to incentivize energy conservation and efficiency in homes. We will give a brief overview of these technologies and how you can understand your opportunity in getting them in your home.
There is also more to the IRA than the Direct Consumer home energy rebates. Much of the $369 billion is directed at expanding larger-scale renewable energy production, promoting clean energy in rural areas, and building up the necessary supply chains. Some of these programs could provide matching funding for projects like Community Solar, which is included in ECW’s 2022 SPET #11 proposition.
Our goal is to help you understand and take advantage of all the opportunities in the Inflation Reduction Act. Join us Nov. 3 at 12:00 to 1:00 p.m. at Teton County Library or join virtually with this link to get further informed.
