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IRA: Steps Towards Economic Stability


A street sign with solar tax credits ahead.
Commercial Solar Saves Substantially with IRA

The 2023 Inflation Reduction Act gives businesses the opportunity to utilize renewable energy in an economically advantageous way. The IRA revolves around the use of clean power compared to damaging energy sources. Passed and signed by Congress in 2022, this Act rewards those who go green and cut emissions for environmental and financial stability. Owners reap rewards through tax credits and reduced energy bills. This bill is revolutionizing the impact of solar projects on businesses. 


The IRA promotes economic stability among business owners who use clean energy. For companies that do not have solar energy in their budget, the IRA works to provide a credit on federal taxes. This federal energy tax credit acts as a rebate for 30% to 50% of sustainable project costs. One of the primary objectives of the IRA is empowering practice owners to commit to clean energy.


Financial Impact of the Inflation Reduction Act:


The act emphasizes the importance of responsible government spending, combating harmful energy sources. Avoid strenuous and stressful price fluctuations for energy by transitioning to solar power. Increasing utility rates can interfere with business functions year after year. This becomes a problem of the past for companies utilizing sustainable electricity. The spikes in utility costs are viewed as a crisis. But for business owners, it is the opportunity to gain a competitive advantage with the IRA. These offerings can be substantially beneficial when regarding non profit solar tax credits.


Not only does this Act cut project costs with tax credits, but yields other incentives like monthly electric bill savings and RECS (Renewable Energy Credits). A key provision of this act includes the positive impact on the country’s economy. Increasing zero-carbon projects across the nation while ensuring transparency and accountability. This is a step in the right direction to promote sustainable business practices. To learn more about the ways you can save when going green visit the economic benefits of green branding.


This Act exemplifies the importance of climate change. Companies save big on clean energy investments by utilizing various energy-efficient power sources. Not only promoting financial stability but environmental sustainability as well. Because of this act, it is estimated that greenhouse gas emissions will decrease 42% by 2030.


It is not too late to take advantage of the IRA. It gives businesses enough leeway and opportunity to invest in clean energy sources. The Inflation Reduction Act is not a one-size-fits-all solution. It is a comprehensive framework that allows owners to implement renewable energy at reformed rates.


In conclusion, the Inflation Reduction Act represents a proactive approach to promoting economic stability. Businesses are able to take advantage of financial incentives and support clean energy while the return on investment is quick and substantial. To learn more about commercial solar tax credits and the IRA visit here.


Why Businesses Choose Smart Roofs: 


Smart Roofs Energy is a turnkey solar energy company. Solar power gives companies control over their electric bills. Offerings include commercial solar system design, rooftop & ground mount solar PV, carports, EV chargers, batteries, solar farms, and more. Reach out for a business energy audit and find out how much you can save.


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