This article has been prepared for informational purposes only; it is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your firm’s tax, legal, and accounting advisors before engaging in any transaction.
Money from the 2022 climate law is now available for high-performance construction and retrofit projects. The Inflation Reduction Act (IRA), passed in August 2022, allocates $370 billion to energy-efficiency improvements, clean energy, and building product manufacturing across the United States. In its pursuit of climate change mitigation and resilience, the IRA centers on environmental justice by driving benefits to middle-class homeowners and renters; Tribes; rural and underserved communities; and those subject to legacy pollution. Certain tax credits offer increased benefits for projects that pay workers the prevailing wage and employ registered apprentices.
IRA funding is now available, and a guidebook released by the White House in December 2022 lays out new details for every program and provision. Those relating to the design, construction, operation, and maintenance of buildings fall into five categories:
Non-residential buildings: energy upgrades and retrofit programs
Residential buildings: energy upgrades, resilience, and new construction
Reduction of embodied carbon in construction materials
Adoption of the latest energy codes
Increased community resilience to climate change
The details of each program are available in the table.
More on federal support for high-performance buildings
Waters, E. (2023, January 18). Funds Begin to Flow from Inflation Reduction Act. Retrieved from https://www.buildinggreen.com/newsbrief/funds-begin-flow-inflation-reduction-act
Hello, I have just read an article in Bloomberg this morning, October 23, 2024 :
NEWS BRIEF
Funds Begin to Flow from Inflation Reduction Act
IRA Guidebook releases new details on eligible projects and resilience measures for buildings.
by Elizabeth Waters How do I get information on applying for a grant to assist my current water intrusion issues on my new home construction done in April of 2022. Major repairs were done in November 2022 and did not work. Are there any funds available for assistance in the correction my issues. I live in rural Cordova, Alaska where our storms are more fierce. My issue is in the siding used resulting in water intrusion damage. Is it too late to apply for a grant from The Inflation Reduction Act? Thank you. Respectfully, Cindy Appleton
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