Inflation Reducation Act 2024. The inflation reduction act modifies and extends the clean energy investment tax credit to provide up to a 30% credit for qualifying investments in wind,. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that congress has made in the nation’s history.
The inflation reduction act has already spurred a clean energy boom, contributing to more than $360 billion in private sector clean energy announcements. The inflation reduction act of 2022 includes two provisions authorizing $8.8 billion in rebates for home energy efficiency and electrification projects.