The bill includes funding for tax credits covering 30% of the costs of installing solar panels and battery storage systems for individual homes, businesses and community solar projects.
Alabama Power spokesperson Alyson Tucker said the company is still reviewing the new law to assess its potential impacts.
The fact sheet states that act also includes grants to help states and local governments adopt updated building energy codes, which could save the average Alabama new homeowner 13% on their utility bills. “And whether you are in New Orleans, Louisiana, or whether you’re Newark, New Jersey, we believe that the communities have the solutions to adapt to climate change, and we want to provide the federal resources to those local solutions that you all have had for years, if not for decades.”The Act also includes funding for “upfront discounts” for $7,500 for purchasing new electric vehicles and $4,000 for used EVs, sparking demand for the vehicles, many of which are now being made in Alabama.
“Commercial building owners can receive a tax credit up to $5 per square foot to support energy efficiency improvements that deliver lower utility bills,” the White House said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden signs landmark Inflation Reduction Act into law at White HouseWATCH LIVE: President Biden to sign massive climate, health and tax bill into law. Watch ABC News Special Report now:
Read more »
FBI interviews former White House counsel Pat Cipollone and his deputy about Mar-a-Lago documentsBREAKING: Former White House counsel Pat Cipollone and his one-time deputy have been interviewed by the FBI regarding documents that were stored at former Pres. Trump's Mar-a-Lago estate, sources familiar with the matter tell ABC News.
Read more »
PolitiFact - Have people been prosecuted for mishandling White House records?Several White House officials have faced litigation for the mishandling of records. Few led to prosecution. Even fewer led to a conviction.
Read more »
Strategists suggest it's 'highly doubtful' Liz Cheney could win the White House in 2024Political strategist are sounding off on whether they believe Rep. Liz Cheney has a shot at a successful run for president in 2024 over former President Donald Trump.
Read more »
Updated COVID vaccine boosters weeks away, White House saysThe White House's coordinator for its COVID-19 response said it is 'not enough' to have just two doses of the original vaccine.
Read more »