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Aug. 23, 2022: The Inflation Reduction Act and What it Means to Renewable Energy and Beyond

Published by Michael J. Novogradac on Aug. 23, 2022, 3:15 p.m.

One week ago, President Joe Biden signed The Inflation Reduction Act into law, legislation that includes major clean and renewable energy provisions, as well as raising a net total tax of about $90 billion over 10 years, according to the Joint Committee on Taxation. In this week’s podcast, Michael Novogradac, CPA, is joined by Nat Eng, CPA, and Novogradac’s director of public policy and government relations to talk about the provisions of the bill. After giving and overview, they discuss the significant broad and crosscutting provisions of the legislation before diving into the specifics of the clean and renewable energy provisions, including the effect of the increase in credit totals, the direct-pay provisions, transferability and bonus credits. They also discuss provisions that are related to affordable housing and community development.

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