The Inflation Reduction Act, passed by Congress and signed by President Joe Biden in August 2022, has been hailed as the largest climate-related investment in U.S. history.The landmark law included $370 billion aimed ultimately at slashing heat-trapping emissions tied to the burning of fossil fuels.A significant chunk of that funding will be plugged directly into the nation’s burgeoning solar, wind and electric vehicle industries. But the IRA also looks to make the often-expensive shift to cleaner, increasingly efficient energy more than a mere luxury reserved largely for affluent Americans.The law’s mix of tax credits and income-based rebates are expected to make electric vehicles, rooftop solar panels, home weatherization, energy-efficient appliances and heat-pump home climate-control systems accessible to low- and middle-income households.
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