President Biden’s $1.85 trillion Build Back Better Act includes millions of dollars in tax credits and federal government assistance for millions of Americans. As part of the bipartisan infrastructure bill, investments in clean energy will help speed the transition away from fossil fuels and potentially put dollars back in the pockets of consumers. Here are three ways that the Build Back Better legislation may be financially beneficial for you, in terms of green energy.
Clean Energy Tax Credits
The infrastructure bill for all 50 states calls on Congress to invest $555 billion in clean energy development and climate initiatives. The good news for you is this program may reduce the cost of solar panel installations on your home’s rooftop and shorten the payback period. The spending bill also includes an electric vehicle tax credit that could save the typical middle-class family up to $12,500 when they buy a made-in-America electric vehicle.
Rebates for Energy Efficiency
The Build Back Better Act will likely extend and expand rebates and tax credits for energy-efficient HVAC systems, water heaters, furnaces, windows, doors, and roofs purchased by homeowners. This may result in significant savings when upgrading to efficient appliances or retrofitting your home to be more energy efficient. By taking advantage of these, there’s the potential to save hundreds of dollars every year on monthly utility bills.
Decreased Costs for Renewable Energy Sources
Energy costs have rapidly decreased for onshore and offshore wind turbine farms, solar farms, and solar panel technologies. And by installing a home solar panel system, you’ll not only lower your monthly electricity costs, you’ll also have additional long-term savings from these low-risk investments in renewable energy.
These long-overdue investments for American families will usher in a clean energy future. By delivering reliable, clean, and affordable power to more Americans, expanding access to clean energy and energy efficient products, the $62 billion earmarked for the U.S. Department of Energy (DOE) will ensure a more equitable clean energy future.
Cool Blew Solar
Get a free quote on your solar panel installation in the Valley of the Sun to take full advantage of the Build Back Better Act. Call your solar energy experts today at Cool Blew Solar at 623-234-2836.