Author: WHIA Staff Published: 8/17/2022 White House Intergovernmental Affairs
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FACT SHEET: How the Inflation Reduction Act HelpsLatino Communities
COMBAT CLIMATE CHANGE AND LOWER ENERGY COSTS
Make Home Efficiency Upgrades More Affordable: The Inflation Reduction Act will make it more affordable for families to purchase energy efficient and electric appliances when they need to replace everyday home appliances and equipment. And, these appliances will save families money on their utility bills in the long run.
- When families need to replace air conditioners, water heaters, or furnaces, they can save up to 30% with tax credits for efficient heating and cooling equipment that will save them hundreds of dollars on utility bills.
- Households can save up to 30% with tax credits for home construction projects on windows, doors, insulation, or other weatherization measures that prevent energy from escaping homes.
- If families need to replace or upgrade stoves, ovens, or other home appliances, they can receive direct rebates when buying more energy efficient and electric appliances that can lower future utility bill by at least $350 per year.
- Families in affordable housing units will benefit from resources to support projects that boost efficiency, improve indoor air quality, make clean energy or electrification upgrades, or strengthen their climate resilience.
- Overall, families that take advantage of clean energy tax credits can save more than $1,000 per year.
Create Economic Opportunities and Jobs: The Inflation Reduction Act creates economic opportunities and jobs that will reach all Americans as it:
- Spurs solar project development in environmental justice communities by providing a 20% bonus credit for solar projects on federally-subsidized affordable housing projects and a 10% bonus credit for solar projects in low-income communities.
- Creates a new Clean Energy and Sustainability Accelerator that will seed state and local clean energy financing institutions, support the deployment of distributed zero-emission technologies like heat-pumps, community solar and EV charging, while prioritizing over 50% of its investments in disadvantaged communities.
- Expands clean energy tax credits for wind, solar, nuclear, clean hydrogen, clean fuels and carbon capture include bonus credit for businesses that pay workers a prevailing wage and hire using registered apprenticeship programs – so that the clean energy we use create good paying jobs.
Protect Public Health: The Inflation Reduction Act recognizes that climate change disproportionately impacts low-income communities and communities of color. The law:
- Creates Environmental Justice Block Grants, and a dedicated program to tackle pollution in port communities – where air pollution is especially dense and deadly.
- Funds a range of programs to reduce air pollution, including for fenceline monitoring and screening near industrial facilities, air quality sensors in disadvantaged communities, new and upgraded multipollutant monitoring sites, and monitoring and mitigation of methane and wood heater emissions.
- Protects our children with investments to monitor and reduce at public schools in disadvantaged communities.
Strengthen Resilience to Climate Change: The Inflation Reduction Act bolsters climate resilience, and strengthens the Nation’s infrastructure and economy against natural disaster and extreme weather events by:
- Upgrading affordable housing with HUD funding to reinforce homes against climate impacts, and increase water and energy efficiency.
- Expanding USDA’s Urban and Community Forestry Program with tree-planting projects that help cool neighborhoods, with a priority for projects that benefit underserved communities.
- Advancing transportation equity and resilience with a new Neighborhood Access and Equity Grant program to improve walkability, safety, and affordability, including projects to protect against extreme heat, flooding, and other impacts.
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