HELP BUSINESSES ACCESS INCENTIVES
PROVIDE VALUE TO YOUR MEMBERS
THE INFLATION REDUCTION ACT
The Inflation Reduction Act of 2022 (IRA) provides a number of opportunities for small and medium-sized businesses to take advantage of tax credits related to clean energy. To assist chambers of commerce and economic development organizations in helping their communities seek these economic benefits, CICE has put together an IRA Policy Brief Series.
FEDERAL RESOURCES
There are many ways chambers can help businesses access federal opportunities:
Grant applications are made stronger when private sector support is reflected in the proposals. Does your chamber or your members have an interest in supporting local governments applying for federal infrastructure grants?
Share resources—like CICE’s IRA Policy Brief Series—to help businesses navigate how to reap the benefits associated with specific clean energy policies.
Here are a few IRA resources your business community may be interested in:
Electric Vehicle (EV) Tax Credits: Expanded EV tax credits for households and businesses.
Advanced Manufacturing Production Credits: Uncapped, variable tax credits for the domestic manufacturing of components for solar and wind energy, inverters, battery components, and critical minerals. Communities across the country are growing their economies as a result of these tax credits.
Alternative Fuel Vehicle Refueling Property Credit: Credits for the installation of alternative fuel (electric, natural gas, hydrogen, etc.) storage and refueling/charging stations in low income and rural areas.
Energy Efficient Commercial Building Deduction: Tax deduction for energy efficiency improvements such as lighting, HVAC, and building envelope in commercial buildings.
The Farm Bill also offers specific incentives for rural communities:
Rural Energy for America Program (REAP): Helps rural Americans access the benefits of clean energy by providing grants and loans to farmers, ranchers, and rural small businesses investing in renewable energy and energy efficiency.
In addition to federal incentives, states across the country are finding ways to help businesses and residents take advantage of the benefits associated with clean energy technology and development.
DSIRE’s Database of State Incentives for Renewables & Efficiency is a great place to start to find out opportunities in your state.
Ohio: The Infrastructure Grant Assistant Program (IGAP), a program of Power a Clean Future Ohio (PCFO), is a technical assistance program to make Ohio cities and counties more competitive for federal grants that will further our collective goal of expanding Ohio’s clean energy economy and reducing emissions. Is your chamber in a PCFO community?
STATE RESOURCES
Looking to take advantage of clean energy incentives in your community?
Reach out to info@chambersforinnovation.com for personalized assistance.