Inflation Reduction Act (IRA)

What is the Inflation Reduction Act (IRA)? 

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022, marks the most significant action Congress has taken on clean energy and climate change in the nation’s history. With this legislation and funding, this Congress has redefined American leadership in confronting the existential threat of the climate crisis and set forth a new era of American innovation and ingenuity to lower consumer costs and drive the global clean energy economy forward. 

Building a Clean Energy Economy

  • Power homes, businesses, and communities with much more clean energy by 2030, including: 
    • 950 million solar panels 
    • 120,000 wind turbines 
    • 2,300 grid-scale battery plants 
  • Advance cost-saving clean energy projects at rural electric cooperatives serving 42 million people. 
  • Strengthen climate resilience and protect nearly 2 million acres of national forests. 
  • Creating millions of good-paying jobs making clean energy in America. 
  • Reducing Harmful Pollution 
    • 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. 
    • Deploy clean energy and reduce particle pollution from fossil fuels to avoid up to 3,900 premature deaths and up to 100,000 asthma attacks annually by 2030. 


Applications: 2022-2027
Spending deadline: 2029

January 17, 2023 City Council Work Session