"The Inflation Reduction Act is the most significant legislation in U.S. history to tackle the climate crisis and strengthen American energy security. It will lower energy costs for households and businesses, create manufacturing jobs for American workers, and deliver a clean, secure, and healthy future for our children and grandchildren. The savings, jobs, and other benefits provided by this legislation will reach communities across Minnesota.
President Biden promised to combat the existential threat of climate change and build a clean energy future that creates jobs, advances environmental justice, and lowers costs for families. He’s following through on that promise with the Inflation Reduction Act and Bipartisan Infrastructure Law.
LOWER ENERGY COSTS: The Inflation Reduction Act will make it more affordable for Minnesota families to purchase energy-efficient appliances when they need to, make repairs around their homes, and save money on their utility bills each month, through:
Rebates covering 50-100% of the cost of installing new electric appliances, including super-efficient heat pumps, water heaters, clothes dryers, stoves, and ovens. In Minnesota, millions of low- and moderate-income households are eligible for rebates.
Rebates for households to make repairs and improvements in single-family and multi-family homes to increase energy efficiency.
Tax credits covering 30% of the costs to install solar panels and battery storage systems, make home improvements that reduce energy leakage, or upgrade heating and cooling equipment. No income limits apply. For solar, uptake projections estimate that 180,000 additional Minnesota households will install rooftop panels as a result.
Tax credits covering 30% of the costs of community solar projects—owned by local businesses that sign up families to save on their electric bills—with additional bonus credits of 20% for projects at affordable housing properties and 10% for projects in low-income communities.
Grants to help state and local governments adopt the latest building energy codes, which would save the average new homeowner in Minnesota 9.1% on their utility bills—$238 annually. " View the pdf to see more