Budget reconciliation 2022 install#
Who they help: These programs help people and businesses install new clean electricity, like wind and solar, by providing tax credits to buy-down the cost of the projects. Reducing the use and combustion of fossil fuels will both reduce GHG emissions and other air pollutants. This bill includes several major provisions that could help cut climate-warming pollution and these are some of the investments that deliver the GHG reductions. While the bill is not what we would have written and does include bad elements, such as provisions tying renewable leasing with fossil leasing on federal lands, our preliminary estimate is that positive climate provisions could outweigh the negative by eight to ten times from a greenhouse gas emissions perspective. We are still digesting the bills details, but our initial analysis indicates that, if properly implemented, the bill could deliver an emission cut of 40% or more by 2030. Future action, like new rules, standards and policies at the federal and state levels, could build on this success and help us reach the 50-52 percent reduction by 2030 target set by the Biden administration. This could not be more timely given how much high fossil fuel costs are driving up what people are paying at the pump and on utility bills. 
It will reduce greenhouse gas and other pollutants by giving people clean energy choices at low cost reduce household and business energy bills.
The Inflation Reduction Act of 2022, which was rolled out this week includes a broad range of investments across most sectors of the economy.
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