Inflation Reduction Act support investment in energy -efficient and low-Carbon buildings
The passage of the Inflation Reduction Act (IRA) was a major achievement for US domestic policy. This is the first comprehensive climate law in the history of the United States, which will bring the country closer to its climate goals by vigorously promoting the development and promotion of clean energy technologies.
The IRA intends to raise about US$737 billion in revenue in the next ten years by raising taxes on large enterprises and wealthy people and reducing the price of prescription drugs for medical insurance, so as to promote the development of the US domestic economy and reduce the deficit and inflation. For this amount of funds, the U.S. government plans to allocate about 437 billion U.S. dollars as a budget to combat climate change and reduce health insurance premiums, and the remaining about 300 billion U.S. dollars will be used to fill future fiscal deficits.
The bill provides tax credits for the purchase of clean-energy vehicles and spends $9 billion on home energy efficiency improvements. The bill also includes $10 billion in investment tax credits for clean technology manufacturing facilities and accelerated construction of clean energy technologies such as solar panels and wind turbines, and an estimated $30 billion in production tax credits. The U.S. needs these investments to drive domestic demand and production of indigenous clean energy technologies to build the industrial base needed to compete with Chinese companies.
More info: GUIDEBOOK TO THE INFLATION REDUCTION ACT’S INVESTMENTS IN CLEAN ENERGY AND CLIMATE ACTION
IRA support investment in energy -efficient and low-Carbon buildings,it expand tax credits to increase energy efficiency and renewable energy projects,especially Section 179D:
The Commercial Buildings Energy Efficient credit, or 179D, increases the deduction for properties that achieve higher levels of efficiency offering $2.50 to $5.00 per square foot for businesses achieving 25 to 50 percent reductions in energy use over existing building performance standards.
Learn more:The Inflation Reduction Act Extends Energy Efficiency Building Incentives
Vacuum insulating glass
Residential and commercial buildings account for 40% of total energy consumption in the United States each year. Even now, heating and air conditioning costs roughly half of household spending. That’s why, keeping the heat out (in summer) or inside (in winter) through better insulation is an urgent problem.
The high thermal conductivity of traditional single glazing,caused all these high energy costs.
In summer it cannot block heat enter the room while in winter,it cannot stop heat diffusing outward…The U value of these single glazing are 5.8W/M2.K
Vacuum insulating glass ,thermal conductivity is just 10% of traditional single glazing,with its superior long lifetime,home owners can enjoy up to 25 years continuous decrease on energy used in cooling and heating,and get energy efficient credit benefit from IRA.
HaanGlas VIG will be involved in the new construction and renovation of commercial buildings and achieve climate goal .Contact us for your next great energy efficient building.